Ethic Inc. Grows Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Ethic Inc. has increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 5.8%, now owning 75,475 shares valued at approximately $12.94 million.
• The company reported $1.81 earnings per share for the last quarter, surpassing estimates, and achieved a revenue of $3.26 billion, marking a 9.8% year-over-year increase.
• Intercontinental Exchange announced a quarterly dividend of $0.48 per share, resulting in an annualized yield of 1.1% and a payout ratio of 36.85%.

Ethic Inc. grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,475 shares of the financial services provider's stock after buying an additional 4,168 shares during the quarter. Ethic Inc.'s holdings in Intercontinental Exchange were worth $12,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tsfg LLC increased its stake in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares during the last quarter. REAP Financial Group LLC lifted its stake in 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 last quarter. McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange during the first quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC purchased a new position in shares of Intercontinental Exchange during the first quarter worth approximately $31,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares of the company's stock, valued at $357,337,668.45. This trade represents a 7.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the transaction, the chief accounting officer directly owned 13,220 shares of the company's stock, valued at $2,379,600. This represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 443,488 shares of company stock worth $80,323,823 in the last three months. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

ICE stock traded down $1.56 during mid-day trading on Friday, reaching $181.12. The company's stock had a trading volume of 2,840,944 shares, compared to its average volume of 3,090,302. The stock has a market cap of $103.68 billion, a PE ratio of 34.76, a P/E/G ratio of 2.15 and a beta of 1.11. 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 fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company's 50 day moving average is $182.02 and its two-hundred day moving average is $173.60.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released 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 company had revenue of $3.26 billion during 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%. Intercontinental Exchange's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 EPS. Equities research analysts expect 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. Investors of record on Tuesday, September 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.1%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 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.