Credit Agricole S A Purchases 22,715 Shares of Intercontinental Exchange Inc. $ICE

Key Points

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Credit Agricole S A lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 11.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,667 shares of the financial services provider's stock after purchasing an additional 22,715 shares during the quarter. Credit Agricole S A's holdings in Intercontinental Exchange were worth $39,100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Royal Bank of Canada grew its stake in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after purchasing an additional 3,678,384 shares during the last quarter. Nuveen LLC purchased a new position in shares of Intercontinental Exchange in the 1st quarter worth about $575,383,000. Wellington Management Group LLP boosted its stake in Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Intercontinental Exchange by 24,394.4% during the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock valued at $3,906,700,000 after purchasing an additional 2,255,507 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Insiders Place Their Bets

In related news, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer directly owned 13,220 shares of the company's stock, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the transaction, the general counsel owned 48,480 shares in the company, valued at $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 442,936 shares of company stock valued at $80,227,488. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

ICE stock traded down $2.0560 during trading on Thursday, reaching $179.2440. The stock had a trading volume of 1,973,631 shares, compared to its average volume of 3,260,785. The firm has a market cap of $102.60 billion, a PE ratio of 34.40, a PEG ratio of 2.16 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock's 50 day moving average is $182.20 and its two-hundred day moving average is $173.94. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

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

Intercontinental Exchange Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on ICE. UBS Group lifted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Piper Sandler raised their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. 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 report on Monday, May 5th. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Barclays lifted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.