Intercontinental Exchange Inc. $ICE Position Trimmed by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank trimmed its stake in Intercontinental Exchange by 48.5% in Q4, selling 285,804 shares and now holds 302,882 shares (about 0.05% of ICE) valued at roughly $49.06 million.
• Intercontinental Exchange beat quarterly estimates with EPS $1.71 vs $1.67 and revenue $3.14B (up 7.8% YoY), and analysts hold a consensus Buy rating with a $193.80 target price.
• Insiders sold 348,418 shares worth $54.2M over the past 90 days (insider ownership 0.84%), and the company declared a quarterly dividend of $0.52 ($2.08 annualized, ~1.3% yield).

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 48.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 302,882 shares of the financial services provider's stock after selling 285,804 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Intercontinental Exchange worth $49,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ICE. Dynasty Wealth Management LLC bought a new position in Intercontinental Exchange in the third quarter worth about $897,000. Rockland Trust Co. grew its holdings in shares of Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider's stock valued at $21,507,000 after purchasing an additional 20,981 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Intercontinental Exchange by 37.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider's stock worth $2,008,000 after purchasing an additional 3,261 shares during the period. Eastern Bank raised its position in shares of Intercontinental Exchange by 14.6% during the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider's stock worth $34,325,000 after purchasing an additional 25,980 shares during the period. Finally, M&G PLC lifted its holdings in shares of Intercontinental Exchange by 18.4% in the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider's stock worth $17,988,000 after purchasing an additional 16,635 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of ICE opened at $160.56 on Tuesday. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The stock's fifty day moving average is $159.66 and its 200-day moving average is $160.11. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $90.95 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 1.68 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.52 earnings per share. Equities analysts anticipate that Intercontinental Exchange Inc. will post 8.06 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange's dividend payout ratio is currently 36.05%.

Analysts Set New Price Targets

ICE has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research report on Friday, April 10th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price target for the company in a report on Friday, March 6th. Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $193.80.

Insiders Place Their Bets

In related news, insider Christopher Scott Edmonds sold 11,303 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the transaction, the insider owned 14,266 shares in the company, valued at $2,194,396.12. This trade represents a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lynn C. Martin sold 13,456 shares of the business's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the sale, the insider directly owned 54,319 shares in the company, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 348,418 shares of company stock valued at $54,196,631. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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