Kestra Advisory Services LLC Lowers Position in Intercontinental Exchange Inc. $ICE

Key Points

• Kestra Advisory Services LLC reduced its stake in Intercontinental Exchange by 15.8%, owning 27,948 shares valued at $4,821,000 after selling 5,234 shares.
• Investor interest has surged, with Price T Rowe Associates Inc. increasing its position in ICE by 491.3% and owning over $1 billion worth of shares.
• Intercontinental Exchange announced a quarterly dividend of $0.48 per share, yielding approximately 1.1%, to be distributed to investors on September 30th.

Kestra Advisory Services LLC cut its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 15.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,948 shares of the financial services provider's stock after selling 5,234 shares during the quarter. Kestra Advisory Services LLC's holdings in Intercontinental Exchange were worth $4,821,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings 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 buying an additional 1,169 shares in the last quarter. Northern Trust Corp raised its stake in shares of 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 worth $1,105,953,000 after buying an additional 655,247 shares during the period. Lido Advisors LLC raised its stake in shares of Intercontinental Exchange by 6.9% during the 4th quarter. Lido Advisors LLC now owns 49,891 shares of the financial services provider's stock worth $7,434,000 after buying an additional 3,203 shares during the period. AdvisorShares Investments LLC raised its stake in shares of Intercontinental Exchange by 2.2% during the 4th quarter. AdvisorShares Investments LLC now owns 47,518 shares of the financial services provider's stock worth $7,081,000 after buying an additional 1,016 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Intercontinental Exchange by 55.3% during the 4th quarter. AQR Capital Management LLC now owns 184,957 shares of the financial services provider's stock worth $27,560,000 after buying an additional 65,858 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of ICE traded down $0.54 during trading hours on Monday, hitting $176.60. 1,775,543 shares of the stock were exchanged, compared to its average volume of 2,915,306. 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 Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The company has a market cap of $101.09 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The stock's 50-day moving average price is $182.00 and its two-hundred day moving average price is $174.66.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on ICE. Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Barclays upped their target price 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 upped their target price 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 upped their target price 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.92.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This represents a 7.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value 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. The trade was a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 449,993 shares of company stock worth $81,486,507 over the last quarter. 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.