Intercontinental Exchange Inc. $ICE Shares Purchased by Perpetual Ltd

Key Points

• Perpetual Ltd increased its stake in Intercontinental Exchange (NYSE:ICE) by 4.5% in Q4, buying 57,698 shares to hold 1,335,571 shares — about 3.1% of Perpetual’s portfolio and roughly 0.23% of ICE valued at $216.3 million.
• Insiders have been net sellers: Lynn C. Martin sold 13,456 shares and CFO Warren Gardiner sold 2,490 shares, part of 348,418 shares (~$54.2 million) sold by insiders over the past three months; insiders now own about 1% of the company.
• Fundamentals and market view: ICE beat Q4 estimates with $1.71 EPS and $3.14 billion revenue, announced a $0.52 quarterly dividend (1.3% yield), and carries an average analyst rating of "Buy" with an average target near $191.20.

Perpetual Ltd raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,335,571 shares of the financial services provider's stock after purchasing an additional 57,698 shares during the period. Intercontinental Exchange comprises about 3.1% of Perpetual Ltd's portfolio, making the stock its 6th largest holding. Perpetual Ltd owned approximately 0.23% of Intercontinental Exchange worth $216,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Holos Integrated Wealth LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $28,000. Dorato Capital Management bought a new position in Intercontinental Exchange in the fourth quarter worth about $29,000. Private Wealth Management Group LLC lifted its holdings in Intercontinental Exchange by 59.5% in the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider's stock worth $30,000 after acquiring an additional 66 shares during the last quarter. Caitlin John LLC acquired a new position in Intercontinental Exchange in the third quarter valued at approximately $32,000. Finally, Cornerstone Planning Group LLC boosted its stake in Intercontinental Exchange by 128.6% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 153 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other news, insider Lynn C. Martin sold 13,456 shares of the business's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the sale, the insider owned 54,319 shares of the company's stock, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Warren Gardiner sold 2,490 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total value of $383,460.00. Following the completion of the sale, the chief financial officer owned 27,679 shares of the company's stock, valued at approximately $4,262,566. This trade represents a 8.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 348,418 shares of company stock valued at $54,196,631 over the last three months. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

ICE stock opened at $163.02 on Friday. The company has a 50-day simple moving average of $161.19 and a 200 day simple moving average of $160.56. The company has a market capitalization of $92.34 billion, a P/E ratio of 28.25, a PEG ratio of 1.75 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. Intercontinental Exchange's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.52 EPS. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange's payout ratio is presently 36.05%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. Weiss Ratings restated a "buy (b-)" rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Piper Sandler restated an "overweight" rating and set a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. UBS Group reaffirmed a "buy" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $191.20.

Intercontinental Exchange Profile

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.

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.