Geneos Wealth Management Inc. Acquires 26,662 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Geneos Wealth Management Inc. increased its holdings in Intercontinental Exchange Inc. by 98.6% in the first quarter, acquiring an additional 26,662 shares to reach a total of 53,711 shares valued at approximately $9.27 million.
• Multiple institutional investors, including Morningstar Investment Management LLC and Meeder Asset Management Inc., also expanded their positions in Intercontinental Exchange during the same period, contributing to a total institutional ownership of 89.30%.
• Intercontinental Exchange recently declared a quarterly dividend of $0.48 per share, yielding about 1.05%, with an annualized payout ratio of 39.75%.

Geneos Wealth Management Inc. lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 98.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,711 shares of the financial services provider's stock after purchasing an additional 26,662 shares during the period. Geneos Wealth Management Inc.'s holdings in Intercontinental Exchange were worth $9,265,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Tsfg LLC boosted its position in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after acquiring 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. Global Trust Asset Management LLC purchased a new position in shares of Intercontinental Exchange during the first quarter valued at about $31,000. Finally, Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Activity at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the sale, the chief executive officer directly owned 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO James W. Namkung sold 612 shares of the company's stock in a transaction dated Friday, May 30th. The stock was 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 directly owned 13,220 shares of the company's stock, valued at approximately $2,379,600. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 226,913 shares of company stock valued at $40,671,107 over the last 90 days. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

ICE has been the topic of several recent research reports. Barclays increased their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. 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. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, 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 report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $194.42.

Intercontinental Exchange Stock Up 0.8%

Shares of NYSE ICE traded up $1.47 during trading hours on Wednesday, hitting $186.18. The stock had a trading volume of 3,506,659 shares, compared to its average volume of 2,977,617. The firm's 50-day moving average price is $180.10 and its two-hundred day moving average price is $170.55. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $187.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $106.80 billion, a P/E ratio of 38.55, a P/E/G ratio of 2.00 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business's revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 earnings per share. Analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

Intercontinental Exchange 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.