Intercontinental Exchange Inc. (NYSE:ICE) Stock Position Reduced by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has reduced its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 37.6%, selling 246,639 shares and now owns approximately 0.07% of the company valued at $70.57 million.
• Intercontinental Exchange recently reported a quarterly earnings per share of $1.72, exceeding expectations, with a revenue of $2.47 billion for the quarter.
• The company announced a quarterly dividend of $0.48 per share, representing an annualized yield of 1.04%, with a payout ratio of 39.75%.

Federated Hermes Inc. decreased its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 37.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 409,133 shares of the financial services provider's stock after selling 246,639 shares during the quarter. Federated Hermes Inc. owned 0.07% of Intercontinental Exchange worth $70,575,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. REAP Financial Group LLC grew its holdings in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after buying an additional 91 shares in the last quarter. Tsfg LLC grew its stake in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares in the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. grew 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 valued at $29,000 after purchasing an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC bought a new position in Intercontinental Exchange in the first quarter valued at approximately $31,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of ICE stock traded up $1.47 during mid-day trading on Wednesday, hitting $186.18. 3,506,659 shares of the stock were exchanged, compared to its average volume of 1,871,467. The firm has a fifty day moving average of $180.10 and a 200 day moving average of $170.55. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $187.38. The company has a market cap of $106.80 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 EPS. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.03%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, 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 value of $110,160.00. Following the completion of the transaction, the chief accounting officer owned 13,220 shares of the company's stock, valued at $2,379,600. This trade represents a 4.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sharon Bowen sold 794 shares of Intercontinental Exchange stock in a transaction on Friday, July 25th. The stock was sold at an average price of $185.00, for a total transaction of $146,890.00. Following the sale, the director directly owned 14,206 shares of the company's stock, valued at approximately $2,628,110. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,913 shares of company stock worth $40,671,107 in the last three months. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

ICE has been the subject of several research reports. Piper Sandler lifted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Bank of America dropped their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley boosted their price objective 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. Barclays boosted their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average price target of $194.42.

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.