Dupont Capital Management Corp Buys 12,608 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Dupont Capital Management raised its stake in Intercontinental Exchange by 34.6%, buying 12,608 shares to hold 49,025 shares valued at $7.94 million, with institutional investors owning about 89.3% of the company.
• ICE beat the quarter with $1.71 EPS (vs. $1.67 expected) and $3.14 billion in revenue (up 7.8% YoY), and analysts maintain an average "Buy" rating with a consensus price target of $193.80.
• The board declared a quarterly dividend of $0.52 (annualized $2.08, ~1.3% yield), while insiders have been net sellers—348,418 shares sold in the past 90 days, leaving insiders with about 0.84% ownership.

Dupont Capital Management Corp grew its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 34.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,025 shares of the financial services provider's stock after acquiring an additional 12,608 shares during the quarter. Dupont Capital Management Corp's holdings in Intercontinental Exchange were worth $7,940,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ICE. Brighton Jones LLC raised its stake in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after purchasing an additional 1,169 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock worth $2,483,000 after purchasing an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock worth $381,000 after purchasing an additional 289 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock worth $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock worth $48,894,000 after purchasing an additional 6,373 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.9%

Intercontinental Exchange stock opened at $163.53 on Friday. The stock has a market cap of $92.63 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The stock has a fifty day moving average of $160.00 and a 200 day moving average of $160.24.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.Intercontinental Exchange's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Intercontinental Exchange's dividend payout ratio is presently 36.05%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ICE. TD Cowen restated a "buy" rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price objective for the company. UBS Group reiterated a "buy" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Piper Sandler reiterated an "overweight" rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $193.80.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 3,865 shares of the company's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the sale, the president owned 165,304 shares in the company, valued at $25,412,183.92. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lynn C. Martin sold 13,456 shares of the company's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the sale, the insider owned 54,319 shares of the company's stock, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 348,418 shares of company stock valued at $54,196,631. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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