Intercontinental Exchange Inc. $ICE Shares Sold by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC reduced its holdings in Intercontinental Exchange Inc. by 73.9%, now owning 2,271 shares valued at $392,000.
• The company's recent earnings report showed an EPS of $1.81, surpassing the consensus estimate of $1.77, with revenue rising to $3.26 billion.
• Intercontinental Exchange announced a quarterly dividend of $0.48, expected to be paid on September 30th, representing an annual yield of 1.1%.

Cambiar Investors LLC trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 73.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,271 shares of the financial services provider's stock after selling 6,425 shares during the period. Cambiar Investors LLC's holdings in Intercontinental Exchange were worth $392,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ICE. Tsfg LLC grew its position in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 143 shares during the period. REAP Financial Group LLC lifted its holdings in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after buying an additional 91 shares during the period. McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange in the 1st quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC purchased a new stake in Intercontinental Exchange in the 1st quarter worth approximately $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on ICE shares. Piper Sandler increased 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. Keefe, Bruyette & Woods boosted their target price 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. Barclays raised their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $194.92.

Intercontinental Exchange Price Performance

Shares of ICE traded up $1.3760 during midday trading on Friday, hitting $180.6060. 2,247,807 shares of the company traded hands, compared to its average volume of 3,210,406. The firm has a 50 day moving average of $182.25 and a 200-day moving average of $174.08. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The stock has a market cap of $103.38 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 2.14 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results 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. The firm had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 EPS. On average, analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal 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 dividend payout ratio (DPR) is 36.85%.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president directly owned 27,313 shares of the company's stock, valued at $4,847,511.24. The trade was a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the completion of the sale, the chief executive officer owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 444,506 shares of company stock worth $80,507,655 over the last 90 days. Corporate 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.