Russell Investments Group Ltd. Grows Stake in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Russell Investments Group Ltd. increased its stake in Intercontinental Exchange Inc. by 58.6%, owning approximately 0.11% of the company valued at $105.58 million after acquiring an additional 225,863 shares.
• Intercontinental Exchange reported a 9.8% increase in quarterly revenue year-over-year, totaling $3.26 billion, and beat EPS estimates by $0.04, achieving earnings of $1.81 per share.
• The company announced a quarterly dividend of $0.48 per share, yielding 1.0% annually, with a dividend payout ratio of 36.85%.

Russell Investments Group Ltd. boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 58.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 611,448 shares of the financial services provider's stock after buying an additional 225,863 shares during the period. Russell Investments Group Ltd. owned 0.11% of Intercontinental Exchange worth $105,584,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ICE. REAP Financial Group LLC grew its holdings in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after acquiring an additional 91 shares during the period. Tsfg LLC lifted its holdings in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after purchasing an additional 103 shares during the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. increased its position 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. Finally, McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange in the 1st quarter worth approximately $30,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded down $1.56 during trading on Friday, hitting $181.12. The company's stock had a trading volume of 2,840,944 shares, compared to its average volume of 3,015,706. The company has a market cap of $103.68 billion, a PE ratio of 34.76, a P/E/G ratio of 2.15 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $181.97 and a 200-day moving average of $173.23. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

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

Intercontinental Exchange Announces Dividend

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

Insider Buying and Selling

In other news, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $2,749,500. This trade represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the transaction, the general counsel owned 48,480 shares of the company's stock, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 443,488 shares of company stock valued at $80,323,823 over the last quarter. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group upped their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays increased their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Piper Sandler upped 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. 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 research note on Friday, May 2nd. Finally, Morgan Stanley upped their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Intercontinental Exchange 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.