Erste Asset Management GmbH Sells 2,886 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Erste Asset Management GmbH reduced its stake in Intercontinental Exchange Inc. by 2.6%, selling 2,886 shares to hold a total of 109,356 shares valued at approximately $18.89 million.
• Intercontinental Exchange reported earnings of $1.81 per share, surpassing the consensus estimate of $1.77, alongside a revenue of $3.26 billion, representing a 9.8% year-over-year increase.
• The company announced a quarterly dividend of $0.48 per share, with an annualized yield of 1.1% and a payout ratio of 36.85%.

Erste Asset Management GmbH cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,356 shares of the financial services provider's stock after selling 2,886 shares during the period. Erste Asset Management GmbH's holdings in Intercontinental Exchange were worth $18,893,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. REAP Financial Group LLC boosted its position in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares during the period. Tsfg LLC raised its position in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the period. Menard Financial Group LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at $29,000. Rakuten Securities Inc. boosted its holdings in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 143 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange in the 1st quarter worth $30,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $178.0380 on Wednesday. The firm has a market capitalization of $101.91 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $182.12 and a 200-day simple moving average of $173.76. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its 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 business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 1.1%. Intercontinental Exchange's dividend payout ratio is currently 36.85%.

Analyst Ratings Changes

Several equities analysts recently weighed in on ICE shares. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Barclays lifted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president directly owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business'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 sale, the general counsel owned 48,480 shares of the company's stock, valued at $8,683,737.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 443,488 shares of company stock valued at $80,323,823. Company insiders own 1.00% of the company's stock.

About Intercontinental Exchange

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.

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