Headlands Technologies LLC Sells 8,369 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Headlands Technologies LLC has reduced its stake in Intercontinental Exchange by 34.4%, selling 8,369 shares to hold a total of 15,967 shares, valued at approximately $2.75 million.
• Analysts have raised their price targets for Intercontinental Exchange stock, with UBS Group setting a target of $210.00, indicating a strong investor interest with a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $0.48 per share, with a dividend yield of 1.0%, and a payout ratio of 36.85% reflecting solid financial health.

Headlands Technologies LLC lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 34.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,967 shares of the financial services provider's stock after selling 8,369 shares during the quarter. Headlands Technologies LLC's holdings in Intercontinental Exchange were worth $2,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Tsfg LLC raised its position in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after purchasing an additional 103 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after buying an additional 143 shares during the period. REAP Financial Group LLC increased its stake in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares during the period. McClarren Financial Advisors Inc. bought a new stake in shares of Intercontinental Exchange during the first quarter worth $30,000. Finally, Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the first quarter valued at $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Barclays raised their target price 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. Piper Sandler boosted their price target 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. UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, 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 report on Friday, May 2nd. Three equities 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 stock has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange 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 transaction, the chief accounting officer owned 13,220 shares of the company's stock, valued at approximately $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the transaction, the chief executive officer owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. This trade represents a 6.66% 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 worth $40,671,107 over the last three months. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Up 0.4%

Shares of NYSE ICE opened at $188.07 on Thursday. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.23. The stock has a market cap of $107.65 billion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 2.22 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company's fifty day moving average is $181.34 and its 200-day moving average is $172.02.

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

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.0%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 36.85%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.