Aptus Capital Advisors LLC Acquires 8,716 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Aptus Capital Advisors LLC increased its holdings in Intercontinental Exchange Inc. by 10.0% during the first quarter, bringing their total to 95,471 shares valued at approximately $16.47 million.
• Intercontinental Exchange reported $1.81 EPS in its recent quarterly earnings, exceeding analysts' expectations, and noted a 9.8% year-over-year increase in revenue to $3.26 billion.
• The company declared a quarterly dividend of $0.48 per share, which is set to be paid on September 30th, resulting in an annualized yield of 1.1%.

Aptus Capital Advisors LLC lifted its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,471 shares of the financial services provider's stock after buying an additional 8,716 shares during the quarter. Aptus Capital Advisors LLC's holdings in Intercontinental Exchange were worth $16,469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Intercontinental Exchange by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock valued at $9,132,211,000 after purchasing an additional 712,179 shares during the last quarter. Royal Bank of Canada lifted its holdings in Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after purchasing an additional 5,204,309 shares during the last quarter. Northern Trust Corp lifted its holdings in Intercontinental Exchange by 9.7% during the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock valued at $1,105,953,000 after purchasing an additional 655,247 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Intercontinental Exchange by 50.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after purchasing an additional 1,993,084 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Intercontinental Exchange by 26.6% during the 4th quarter. Janus Henderson Group PLC now owns 5,721,604 shares of the financial services provider's stock valued at $852,578,000 after purchasing an additional 1,200,965 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE traded down $2.0560 during midday trading on Thursday, reaching $179.2440. 1,973,631 shares of the stock were exchanged, compared to its average volume of 3,009,574. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market cap of $102.60 billion, a P/E ratio of 34.40, a PEG ratio of 2.13 and a beta of 1.11. The stock's 50 day simple moving average is $182.19 and its 200 day simple moving average is $173.81.

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

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.1%. Intercontinental Exchange's payout ratio is currently 36.85%.

Insider Buying and Selling

In related news, Director Sharon Bowen sold 795 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total value of $145,723.50. Following the transaction, the director owned 15,000 shares in the company, valued at approximately $2,749,500. This trade represents a 5.03% 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 link. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the transaction, the chief accounting officer owned 13,220 shares in the company, valued at $2,379,600. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 442,936 shares of company stock valued at $80,227,488 in the last ninety days. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Piper Sandler raised their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley raised their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Barclays lifted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

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.