Ameriprise Financial Inc. Increases Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Ameriprise Financial Inc. increased its holdings in Intercontinental Exchange Inc. by 34.5%, owning approximately 2.66 million shares valued at $458 million as of the latest SEC filing.
• The company reported $1.81 earnings per share for the last quarter, surpassing analysts' expectations and marking a 9.8% increase in revenue year-over-year.
• Intercontinental Exchange announced a quarterly dividend of $0.48 per share, reflecting a dividend yield of 1.1% and a payout ratio of 36.85%.

Ameriprise Financial Inc. boosted its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 34.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,656,274 shares of the financial services provider's stock after purchasing an additional 681,571 shares during the period. Ameriprise Financial Inc. owned about 0.46% of Intercontinental Exchange worth $458,207,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ICE. Brighton Jones LLC lifted its stake in Intercontinental Exchange by 51.3% in the fourth 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 during the last quarter. First Trust Advisors LP lifted its stake in Intercontinental Exchange by 703.3% in the fourth quarter. First Trust Advisors LP now owns 124,533 shares of the financial services provider's stock valued at $18,557,000 after purchasing an additional 109,031 shares during the last quarter. MML Investors Services LLC grew its stake in Intercontinental Exchange by 3.0% in the 4th quarter. MML Investors Services LLC now owns 56,330 shares of the financial services provider's stock valued at $8,394,000 after buying an additional 1,657 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in Intercontinental Exchange by 15.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,464 shares of the financial services provider's stock valued at $367,000 after buying an additional 323 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in Intercontinental Exchange by 13.4% in the 4th quarter. OneDigital Investment Advisors LLC now owns 6,769 shares of the financial services provider's stock valued at $1,009,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Down 0.0%

NYSE ICE traded down $0.05 during trading on Wednesday, hitting $178.69. 487,241 shares of the company's stock traded hands, compared to its average volume of 2,987,217. The stock has a fifty day moving average of $182.19 and a two-hundred day moving average of $174.34. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The firm has a market cap of $102.29 billion, a P/E ratio of 34.29, a PEG ratio of 2.14 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

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

Intercontinental Exchange Dividend Announcement

The business also recently disclosed 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 currently 36.85%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were 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 approximately $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sharon Bowen sold 794 shares of the company's stock in a transaction 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 sale, the director owned 14,206 shares of the company's stock, valued at $2,628,110. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 444,719 shares of company stock valued at $80,546,996. Corporate insiders own 1.00% of the company's stock.

About Intercontinental Exchange

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.