Intercontinental Exchange Inc. $ICE Shares Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP has increased its stake in Intercontinental Exchange Inc. by 16.1%, now holding over 121,000 shares valued at approximately $20.9 million.
• Intercontinental Exchange recently reported an EPS of $1.81 for the quarter, exceeding analysts' expectations and showing a 9.8% year-over-year increase in revenue.
• The company announced a quarterly dividend of $0.48, representing an annualized dividend yield of 1.1%, to be paid on September 30th.

Trexquant Investment LP raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 16.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,297 shares of the financial services provider's stock after purchasing an additional 16,854 shares during the quarter. Trexquant Investment LP's holdings in Intercontinental Exchange were worth $20,924,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ICE. Brighton Jones LLC increased its stake in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. Lido Advisors LLC increased its stake in Intercontinental Exchange by 6.9% during the 4th quarter. Lido Advisors LLC now owns 49,891 shares of the financial services provider's stock valued at $7,434,000 after purchasing an additional 3,203 shares in the last quarter. AQR Capital Management LLC increased its stake in Intercontinental Exchange by 55.3% during the 4th quarter. AQR Capital Management LLC now owns 184,957 shares of the financial services provider's stock valued at $27,560,000 after purchasing an additional 65,858 shares in the last quarter. Utah Retirement Systems increased its stake in Intercontinental Exchange by 0.3% during the 4th quarter. Utah Retirement Systems now owns 94,262 shares of the financial services provider's stock valued at $14,046,000 after purchasing an additional 300 shares in the last quarter. Finally, Voleon Capital Management LP acquired a new position in Intercontinental Exchange during the 4th quarter valued at approximately $602,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

NYSE ICE traded down $0.54 during mid-day trading on Friday, reaching $176.60. 1,775,543 shares of the stock were exchanged, compared to its average volume of 3,016,317. The business's 50 day moving average is $182.07 and its 200-day moving average is $174.55. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a market capitalization of $101.09 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley upped 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. Barclays increased their price objective 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. Piper Sandler increased their price objective 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. Finally, UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of "Moderate Buy" and an average target price of $194.92.

Insider Activity

In related news, CFO Warren Gardiner sold 1,570 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total transaction of $280,166.50. Following the sale, the chief financial officer directly owned 22,106 shares of the company's stock, valued at approximately $3,944,815.70. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Martha A. Tirinnanzi sold 610 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $179.76, for a total transaction of $109,653.60. Following the sale, the director directly owned 3,519 shares in the company, valued at $632,575.44. This trade represents a 14.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 449,993 shares of company stock valued at $81,486,507 in the last three months. Corporate insiders own 1.00% of the company's stock.

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.