Intercontinental Exchange Inc. $ICE Shares Bought by Brooklyn Investment Group

Key Points

• Brooklyn Investment Group increased its holdings in Intercontinental Exchange Inc. by 65.6% in the first quarter, now owning 5,283 shares valued at approximately $911,000.
• CEO Jeffrey C. Sprecher sold 150,000 shares for about $27.46 million, which lowered his ownership by 7.14%.
• The company declared a quarterly dividend of $0.48, with a yield of 1.1% and a payout ratio of 36.85%.

Brooklyn Investment Group lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 65.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,283 shares of the financial services provider's stock after purchasing an additional 2,093 shares during the quarter. Brooklyn Investment Group's holdings in Intercontinental Exchange were worth $911,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC grew its holdings in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after acquiring an additional 1,169 shares during the period. Gamco Investors INC. ET AL grew its holdings in Intercontinental Exchange by 13.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,556 shares of the financial services provider's stock worth $232,000 after acquiring an additional 189 shares during the period. Forum Financial Management LP grew its holdings in Intercontinental Exchange by 9.4% during the fourth quarter. Forum Financial Management LP now owns 5,068 shares of the financial services provider's stock worth $755,000 after acquiring an additional 436 shares during the period. First Trust Advisors LP grew its holdings in Intercontinental Exchange by 703.3% during the fourth quarter. First Trust Advisors LP now owns 124,533 shares of the financial services provider's stock worth $18,557,000 after acquiring an additional 109,031 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Intercontinental Exchange by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,843,440 shares of the financial services provider's stock worth $274,702,000 after acquiring an additional 52,346 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Morgan Stanley boosted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Barclays boosted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. UBS Group boosted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. 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 Price Performance

Shares of NYSE:ICE traded up $1.3760 on Friday, hitting $180.6060. The company had a trading volume of 2,233,366 shares, compared to its average volume of 3,004,677. The company has a current ratio of 1.01, a quick 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 business has a 50 day moving average of $182.20 and a 200 day moving average of $173.94. The company has a market cap of $103.38 billion, a PE ratio of 34.67, a PEG ratio of 2.16 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued 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 return on equity of 13.66% and a net margin of 23.92%.The business 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 business earned $1.52 earnings per share. The business's revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

Insider Activity

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the transaction, the chief executive officer directly owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares in the company, valued at $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 442,936 shares of company stock valued at $80,227,488 in the last three months. Company insiders own 1.00% of the company's stock.

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.