Groupama Asset Managment Has $1.57 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Groupama Asset Management reduced its stake in Intercontinental Exchange Inc. by 59.8%, trimming its holdings to 8,956 shares valued at approximately $1,565,000 following the sale of 13,340 shares in the first quarter.
• Despite this sell-off, institutional investors continue to show interest in ICE, with 89.30% of the stock currently owned by them, including significant increases by firms like Brighton Jones LLC and First Trust Advisors LP.
• Intercontinental Exchange reported a 9.8% year-over-year increase in revenue during its last quarterly earnings, with an earnings per share (EPS) of $1.81, exceeding the analysts' expectations of $1.77.

Groupama Asset Managment reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 59.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,956 shares of the financial services provider's stock after selling 13,340 shares during the quarter. Groupama Asset Managment's holdings in Intercontinental Exchange were worth $1,565,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. REAP Financial Group LLC grew its stake 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 valued at $25,000 after purchasing an additional 91 shares during the last quarter. Tsfg LLC grew its stake in shares of 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 purchasing an additional 103 shares during the last quarter. Menard Financial Group LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. grew its stake in shares of Intercontinental Exchange by 595.8% during 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 during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $30,000. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president directly owned 27,313 shares of the company's stock, valued at $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total transaction of $145,723.50. Following the transaction, the director directly owned 15,000 shares in the company, valued at approximately $2,749,500. This represents a 5.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 444,506 shares of company stock valued at $80,507,655. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Up 0.8%

Shares of NYSE ICE traded up $1.3760 during midday trading on Friday, reaching $180.6060. 2,247,807 shares of the stock were exchanged, compared to its average volume of 3,210,406. The business has a 50-day simple moving average of $182.25 and a two-hundred day simple moving average of $174.18. The company has a market capitalization of $103.38 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 2.15 and a beta of 1.11. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.1%. Intercontinental Exchange's dividend payout ratio is 36.85%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler increased their price target 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. Barclays increased their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price objective 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. Finally, Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus price target of $194.92.

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.