Van Lanschot Kempen Investment Management N.V. Sells 41,248 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Van Lanschot Kempen Investment Management N.V. reduced its stake in Intercontinental Exchange by 37.4%, now holding 68,956 shares valued at approximately $11.9 million.
• Several hedge funds, including Governors Lane LP, have increased their stakes in Intercontinental Exchange, with Governors Lane LP boosting its holdings by 88.0% to 127,100 shares.
• Intercontinental Exchange has a consensus rating of "Moderate Buy" with price targets from various analysts ranging from $189.00 to $212.00.

Van Lanschot Kempen Investment Management N.V. decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 37.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,956 shares of the financial services provider's stock after selling 41,248 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Intercontinental Exchange were worth $11,895,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Fielder Capital Group LLC lifted its position in shares of Intercontinental Exchange by 2.2% in the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after buying an additional 61 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Intercontinental Exchange by 4.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock worth $259,000 after purchasing an additional 61 shares during the last quarter. Berkeley Capital Partners LLC lifted its position in shares of Intercontinental Exchange by 1.1% during the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after purchasing an additional 62 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its position in shares of Intercontinental Exchange by 17.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock worth $74,000 after purchasing an additional 63 shares during the last quarter. Finally, Values Added Financial LLC lifted its position in shares of Intercontinental Exchange by 4.4% during the 1st quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock worth $264,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded down $0.56 during midday trading on Monday, reaching $180.11. The company's stock had a trading volume of 907,278 shares, compared to its average volume of 2,991,402. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a market capitalization of $103.10 billion, a P/E ratio of 34.54, a P/E/G ratio of 2.15 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The business's fifty day simple moving average is $182.25 and its 200-day simple moving average is $174.23.

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 for the quarter, beating 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 analyst estimates of $2.50 billion. During the same period last year, the company posted $1.52 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed 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 yield of 1.1%. Intercontinental Exchange's payout ratio is 36.85%.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction dated Thursday, June 5th. The stock was 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 $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sharon Bowen sold 794 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $185.00, for a total value of $146,890.00. Following the transaction, the director owned 14,206 shares in the company, valued at approximately $2,628,110. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 444,506 shares of company stock valued at $80,507,655. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ICE has been the subject of several research analyst reports. UBS Group boosted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Barclays boosted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods upped 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. Piper Sandler boosted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley increased their price objective 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 given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.