Intercontinental Exchange Inc. $ICE Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Intercontinental Exchange by 29.3% in Q3, buying 553,486 shares to hold 2,439,436 shares (about 0.43% of the company) valued at roughly $410.98 million.
• Insider selling has been notable recently: CEO Jeffrey C. Sprecher sold 150,000 shares and CTO Mayur Kapani sold 15,213 shares, with insiders offloading 359,063 shares worth about $55.88 million in the last 90 days; insiders now own 1% of the stock.
• Wall Street sentiment is broadly positive with a consensus "Buy" and an average price target of $195.40; ICE recently posted an EPS and revenue beat and trades with a market cap of $94.41 billion and a 1.3% dividend yield.

Dimensional Fund Advisors LP lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 29.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,439,436 shares of the financial services provider's stock after purchasing an additional 553,486 shares during the period. Dimensional Fund Advisors LP owned about 0.43% of Intercontinental Exchange worth $410,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. Westside Investment Management Inc. acquired a new stake in shares of Intercontinental Exchange during the second quarter worth about $29,000. Private Wealth Management Group LLC increased its holdings in shares of Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Knuff & Co LLC lifted its position in shares of Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 74 shares during the period. Caitlin John LLC purchased a new stake in Intercontinental Exchange during the third quarter worth $32,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Intercontinental Exchange by 128.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider's stock worth $46,000 after buying an additional 153 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays set a $193.00 price objective on Intercontinental Exchange and gave the company an "overweight" rating in a research note on Friday, February 6th. Piper Sandler reiterated an "overweight" rating and issued a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the stock an "equal weight" rating in a research report on Tuesday, February 10th. Finally, UBS Group reaffirmed a "buy" rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $195.40.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $166.24 on Thursday. The firm's 50 day moving average is $164.66 and its two-hundred day moving average is $163.09. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $94.41 billion, a P/E ratio of 28.81, a PEG ratio of 1.72 and a beta of 1.03. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion for 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%. Intercontinental Exchange's revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 EPS. Analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange's payout ratio is presently 33.28%.

Insider Buying and Selling at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 15,213 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total value of $2,358,319.26. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,055,992.38. This represents a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the transaction, the chief executive officer directly owned 1,651,705 shares in the company, valued at $256,014,275. The trade was a 8.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 359,063 shares of company stock valued at $55,879,604 in the last ninety days. Company insiders own 1.00% of the company's stock.

About Intercontinental Exchange

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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