EagleClaw Capital Managment LLC Buys 1,557 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• EagleClaw Capital Management LLC increased its holdings in Intercontinental Exchange by 2.3%, amounting to approximately $11.95 million, making it the 13th largest holding in their portfolio.
• A significant number of institutional investors, including the Royal Bank of Canada and Kovitz Investment Group, substantially increased their stakes in Intercontinental Exchange, indicating strong institutional interest.
• Analysts have raised price targets for Intercontinental Exchange, with an average target now set at $194.42, reflecting confidence in the company's growth prospects.

EagleClaw Capital Managment LLC lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,297 shares of the financial services provider's stock after purchasing an additional 1,557 shares during the quarter. Intercontinental Exchange accounts for 1.9% of EagleClaw Capital Managment LLC's holdings, making the stock its 13th largest position. EagleClaw Capital Managment LLC's holdings in Intercontinental Exchange were worth $11,954,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ICE. Royal Bank of Canada increased its holdings in shares of Intercontinental Exchange by 132.9% during the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after buying an additional 5,204,309 shares in the last quarter. Northern Trust Corp grew its holdings in Intercontinental Exchange by 9.7% during the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock worth $1,105,953,000 after acquiring an additional 655,247 shares during the last quarter. Independent Franchise Partners LLP grew its holdings in Intercontinental Exchange by 20.8% during the 4th quarter. Independent Franchise Partners LLP now owns 6,160,836 shares of the financial services provider's stock worth $918,026,000 after acquiring an additional 1,062,904 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Intercontinental Exchange by 50.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after acquiring an additional 1,993,084 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Intercontinental Exchange by 26.6% during the 4th quarter. Janus Henderson Group PLC now owns 5,721,604 shares of the financial services provider's stock worth $852,578,000 after acquiring an additional 1,200,965 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Down 0.2%

ICE traded down $0.35 during midday trading on Friday, hitting $184.48. The company had a trading volume of 3,795,662 shares, compared to its average volume of 2,132,621. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $187.38. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $105.82 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 2.02 and a beta of 1.11. The stock's 50 day moving average price is $180.71 and its 200 day moving average price is $171.21.

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

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.0%. Intercontinental Exchange's payout ratio is currently 39.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Barclays lifted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Insiders Place Their Bets

In other news, Director Sharon Bowen sold 794 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $185.00, for a total value of $146,890.00. Following the transaction, the director owned 14,206 shares in the company, valued at $2,628,110. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel owned 48,480 shares in the company, valued at $8,683,737.60. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 226,913 shares of company stock worth $40,671,107 in the last quarter. Insiders own 1.00% of the company's stock.

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.