Geo Capital Gestora de Recursos Ltd Has $5.08 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Geo Capital Gestora de Recursos Ltd reduced its stake in Intercontinental Exchange by 8.3%, holding 29,460 shares valued at approximately $5.08 million after selling 2,651 shares in the first quarter.
• Major institutional investors made significant moves, with Royal Bank of Canada increasing its holdings by 132.9%, and GAMMA Investing LLC boosting its stake by an astonishing 24,394.4%.
• Intercontinental Exchange recently announced a quarterly dividend of $0.48 per share, reflecting an annualized yield of 1.1% and a payout ratio of 36.85%.

Geo Capital Gestora de Recursos Ltd decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 8.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 29,460 shares of the financial services provider's stock after selling 2,651 shares during the period. Intercontinental Exchange accounts for about 7.0% of Geo Capital Gestora de Recursos Ltd's holdings, making the stock its 5th largest position. Geo Capital Gestora de Recursos Ltd's holdings in Intercontinental Exchange were worth $5,082,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ICE. REAP Financial Group LLC increased its holdings in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares during the last quarter. Tsfg LLC increased its holdings in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $29,000. Rakuten Securities Inc. increased its holdings in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange during the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $1.3760 during trading on Friday, hitting $180.6060. 2,247,807 shares of the stock were exchanged, compared to its average volume of 3,210,406. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a market capitalization of $103.38 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.14 and a beta of 1.11. The company's fifty day simple moving average is $182.25 and its 200-day simple moving average is $174.08. 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 quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm earned $1.52 EPS. Intercontinental Exchange's revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal 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 paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.1%. Intercontinental Exchange's dividend payout ratio is 36.85%.

Insiders Place Their Bets

In related news, Director Sharon Bowen sold 794 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $185.00, for a total value of $146,890.00. Following the sale, the director owned 14,206 shares of the company's stock, valued at $2,628,110. The trade was a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the sale, the general counsel directly owned 48,480 shares in the company, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 444,506 shares of company stock worth $80,507,655 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ICE shares. Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Keefe, Bruyette & Woods increased their price objective 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 target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Barclays raised their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Piper Sandler raised their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.92.

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.