Intercontinental Exchange Inc. $ICE Shares Acquired by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC increased its stake in Intercontinental Exchange Inc. by 18.7%, owning 203,876 shares valued at approximately $35.17 million as of the latest SEC filing.
• CEO Jeffrey C. Sprecher sold 150,000 shares for about $27.46 million, resulting in a 7.14% decrease in his ownership, which now totals 1,951,705 shares.
• Intercontinental Exchange reported $1.81 earnings per share for the last quarter, exceeding expectations and showing a 9.8% increase in revenue from the previous year.

Guggenheim Capital LLC lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 18.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,876 shares of the financial services provider's stock after buying an additional 32,113 shares during the quarter. Guggenheim Capital LLC's holdings in Intercontinental Exchange were worth $35,169,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Governors Lane LP boosted its stake 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 buying an additional 59,500 shares during the last quarter. Tema Etfs LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at $1,107,000. Capital Investment Advisory Services LLC purchased a new position in Intercontinental Exchange in the first quarter valued at $349,000. Sequoia Financial Advisors LLC increased its holdings in Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock valued at $2,099,000 after buying an additional 1,879 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in Intercontinental Exchange in the fourth quarter valued at $28,949,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the sale, the chief executive officer owned 1,951,705 shares of the company's stock, valued at $357,337,668.45. This represents a 7.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sharon Bowen sold 794 shares of the 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 directly owned 14,206 shares of the company's stock, valued at approximately $2,628,110. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 444,719 shares of company stock worth $80,546,996. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Down 0.2%

Shares of NYSE ICE opened at $178.73 on Wednesday. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The stock has a market cap of $102.31 billion, a PE ratio of 34.30, a P/E/G ratio of 2.14 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 company has a 50-day moving average of $182.19 and a 200 day moving average of $174.34.

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

Intercontinental Exchange Announces Dividend

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 paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.1%. Intercontinental Exchange's dividend payout ratio (DPR) is 36.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Barclays boosted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley raised their price target 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. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Ten 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

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.