Eagle Global Advisors LLC Has $14.92 Million Stock Position in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Eagle Global Advisors LLC has decreased its stock holdings in Intercontinental Exchange Inc. by 36.2%, owning 86,509 shares worth approximately $14.9 million after selling 49,164 shares in the 1st quarter.
• CEO Jeffrey C. Sprecher sold 150,000 shares for about $26.9 million, which reduced his ownership by 6.66%.
• Wall Street analysts are optimistic about Intercontinental Exchange, with multiple firms increasing their target prices, resulting in a consensus rating of "Moderate Buy" and a target price of $194.92.

Eagle Global Advisors LLC decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 36.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,509 shares of the financial services provider's stock after selling 49,164 shares during the quarter. Eagle Global Advisors LLC's holdings in Intercontinental Exchange were worth $14,923,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ICE. Brighton Jones LLC increased its holdings in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after buying an additional 1,169 shares in the last quarter. Townsquare Capital LLC increased its stake in shares of Intercontinental Exchange by 16.7% in the 4th quarter. Townsquare Capital LLC now owns 12,060 shares of the financial services provider's stock valued at $1,797,000 after purchasing an additional 1,725 shares in the last quarter. Optimize Financial Inc acquired a new position in Intercontinental Exchange in the 4th quarter worth about $310,000. Sagespring Wealth Partners LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $1,748,000. Finally, Altman Advisors Inc. raised its position in shares of Intercontinental Exchange by 0.6% during the 4th quarter. Altman Advisors Inc. now owns 12,750 shares of the financial services provider's stock worth $1,900,000 after purchasing an additional 81 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of research reports. Piper Sandler raised their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Barclays lifted their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley raised their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, UBS Group increased their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $194.92.

Insider Activity

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the transaction, the chief accounting officer owned 13,220 shares of the company's stock, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 443,488 shares of company stock worth $80,323,823 over the last 90 days. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Up 0.8%

ICE stock traded up $1.37 during trading on Thursday, reaching $182.78. The stock had a trading volume of 6,072,339 shares, compared to its average volume of 3,016,790. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The firm has a fifty day moving average price of $181.89 and a 200 day moving average price of $173.08. The company has a market capitalization of $104.63 billion, a P/E ratio of 35.08, a PEG ratio of 2.17 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.1%. Intercontinental Exchange's payout ratio is currently 36.85%.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.