Inspire Trust Co. N.A. Acquires 1,400 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Inspire Trust Co. N.A. increased its stake in Intercontinental Exchange by 9.3%, owning 16,400 shares valued at approximately $2.83 million as of the latest SEC filing.
• Significant institutional interest is evident, with 89.30% of Intercontinental Exchange's stock held by institutional investors, including notable stakes from Governors Lane LP and Lansforsakringar Fondforvaltning AB.
• Intercontinental Exchange recently declared a quarterly dividend of $0.48 per share, equating to an annualized yield of 1.1%, with a payout ratio of 36.85%.

Inspire Trust Co. N.A. grew its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,400 shares of the financial services provider's stock after purchasing an additional 1,400 shares during the period. Inspire Trust Co. N.A.'s holdings in Intercontinental Exchange were worth $2,829,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Governors Lane LP increased its holdings in shares of Intercontinental Exchange by 88.0% in the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock worth $18,939,000 after acquiring an additional 59,500 shares in the last quarter. Tema Etfs LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth $1,107,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Intercontinental Exchange during the first quarter worth $349,000. Sequoia Financial Advisors LLC lifted its position in Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock valued at $2,099,000 after acquiring an additional 1,879 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth about $28,949,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Activity

In other news, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the transaction, the senior vice president owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. The trade was a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sharon Bowen sold 794 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $185.00, for a total transaction of $146,890.00. Following the completion of the sale, the director owned 14,206 shares in the company, valued at approximately $2,628,110. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 443,488 shares of company stock valued at $80,323,823. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on ICE. Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. UBS Group lifted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays increased their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Piper Sandler boosted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley lifted 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 report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

Intercontinental Exchange Stock Performance

Shares of ICE traded down $1.56 during mid-day trading on Friday, hitting $181.12. 2,840,944 shares of the company's stock were exchanged, compared to its average volume of 3,072,402. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The stock's 50-day simple moving average is $182.02 and its 200-day simple moving average is $173.50. The firm has a market cap of $103.68 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11.

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

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.1%. Intercontinental Exchange's payout ratio 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.