Fiera Capital Corp Buys 7,550 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Fiera Capital Corp increased its stake in Intercontinental Exchange Inc. by 20.8%, acquiring an additional 7,550 shares in the first quarter, bringing its total holdings to 43,832 shares valued at $7.56 million.
• Intercontinental Exchange reported $1.72 EPS for the quarter, exceeding analysts' expectations, with a net revenue of $2.47 billion, marking an 8.0% increase year-over-year.
• The company has announced a quarterly dividend of $0.48, translating to an annualized dividend of $1.92 with a 1.04% dividend yield.

Fiera Capital Corp increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 20.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,832 shares of the financial services provider's stock after purchasing an additional 7,550 shares during the period. Fiera Capital Corp's holdings in Intercontinental Exchange were worth $7,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management grew its position in Intercontinental Exchange by 7.6% during the 1st quarter. Picton Mahoney Asset Management now owns 54,244 shares of the financial services provider's stock worth $9,360,000 after acquiring an additional 3,851 shares during the last quarter. Fielder Capital Group LLC grew its position in Intercontinental Exchange by 2.2% during the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after acquiring an additional 61 shares during the last quarter. Baldwin Investment Management LLC grew its position in Intercontinental Exchange by 1.0% during the 1st quarter. Baldwin Investment Management LLC now owns 9,584 shares of the financial services provider's stock worth $1,653,000 after acquiring an additional 94 shares during the last quarter. Werba Rubin Papier Wealth Management bought a new position in Intercontinental Exchange in the 1st quarter worth approximately $217,000. Finally, Nemes Rush Group LLC raised its position in Intercontinental Exchange by 2.3% in the 1st quarter. Nemes Rush Group LLC now owns 56,310 shares of the financial services provider's stock worth $9,713,000 after purchasing an additional 1,285 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays raised their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. UBS Group raised their price target 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. Morgan Stanley boosted their price objective on shares of 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, Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $194.42.

Insiders Place Their Bets

In related news, CAO James W. Namkung sold 612 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer directly owned 13,220 shares in the company, valued at approximately $2,379,600. The trade was a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the sale, the chief executive officer owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 226,913 shares of company stock worth $40,671,107 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of ICE traded up $1.47 during midday trading on Wednesday, hitting $186.18. The company's stock had a trading volume of 3,506,659 shares, compared to its average volume of 1,871,467. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $187.38. The stock has a market capitalization of $106.80 billion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The company's fifty day simple moving average is $180.10 and its two-hundred day simple moving average is $170.55.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. Intercontinental Exchange's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 earnings per share. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.03%. Intercontinental Exchange's payout ratio is 39.75%.

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.