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Intercontinental Exchange Inc. $ICE Shares Bought by Findlay Park Partners LLP

Intercontinental Exchange logo with Finance background

Key Points

  • Findlay Park Partners LLP increased its ownership in Intercontinental Exchange by 1.4%, owning 1,025,269 shares worth approximately $176.9 million, making it the firm's 25th largest position.
  • Intercontinental Exchange reported earnings per share of $1.81 for the recent quarter, surpassing estimates and showing a 9.8% year-over-year revenue growth of $3.26 billion.
  • The company announced a quarterly dividend of $0.48 per share, with a current yield of 1.1% and a payout ratio of 36.85%.
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Findlay Park Partners LLP raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,025,269 shares of the financial services provider's stock after buying an additional 13,800 shares during the period. Intercontinental Exchange comprises about 1.8% of Findlay Park Partners LLP's holdings, making the stock its 25th largest position. Findlay Park Partners LLP owned 0.18% of Intercontinental Exchange worth $176,859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ICE. Price T Rowe Associates Inc. MD grew its holdings in shares of Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares during the last quarter. Royal Bank of Canada grew 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 purchasing an additional 5,204,309 shares during the last quarter. Nuveen LLC purchased a new position in shares of Intercontinental Exchange during the first quarter worth about $575,383,000. Wellington Management Group LLP grew its holdings in shares of Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after purchasing an additional 3,165,381 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Intercontinental Exchange by 24,394.4% during the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after purchasing an additional 2,255,507 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the sale, the chief executive officer owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. The trade was a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 449,993 shares of company stock valued at $81,486,507 over the last 90 days. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Performance

NYSE:ICE traded down $0.54 during mid-day trading on Friday, reaching $176.60. The stock had a trading volume of 1,775,543 shares, compared to its average volume of 3,016,317. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $101.09 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.11 and a beta of 1.11. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The business has a 50 day simple moving average of $182.07 and a 200 day simple moving average of $174.55.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced 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 firm 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%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.52 earnings per share. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ICE. Piper Sandler raised their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley raised their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Barclays raised their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $194.92.

View Our Latest Stock Analysis on Intercontinental Exchange

Intercontinental Exchange Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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