Intercontinental Exchange Inc. (NYSE:ICE) Stock Position Raised by VeraBank N.A.

Key Points

• VeraBank N.A. increased its stake in Intercontinental Exchange Inc. by 47.3%, acquiring a total of 5,604 shares worth approximately $967,000 at the end of the reporting period.
• Several institutional investors significantly boosted their positions in ICE, with GAMMA Investing LLC showing a staggering increase of 24,394.4% in the first quarter.
• Intercontinental Exchange reported a quarterly earnings per share of $1.81, surpassing analysts' expectations, and announced a quarterly dividend of $0.48, reflecting a 1.0% dividend yield.

VeraBank N.A. lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 47.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,604 shares of the financial services provider's stock after acquiring an additional 1,800 shares during the period. VeraBank N.A.'s holdings in Intercontinental Exchange were worth $967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ICE. Tsfg LLC grew its stake in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after purchasing an additional 103 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares in the last quarter. REAP Financial Group LLC grew its stake in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange in the first quarter worth $30,000. Finally, Global Trust Asset Management LLC bought a new position in shares of Intercontinental Exchange in the first quarter worth $31,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Intercontinental Exchange news, 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 transaction of $146,890.00. Following the completion of the sale, the director directly owned 14,206 shares in the company, valued at approximately $2,628,110. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer owned 13,220 shares of the company's stock, valued at $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 226,913 shares of company stock worth $40,671,107. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

ICE has been the subject of several recent analyst reports. Piper Sandler increased their price target 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 increased 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. Keefe, Bruyette & Woods upped 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. Finally, Morgan Stanley upped 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. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average price target of $194.92.

Intercontinental Exchange Trading Down 0.8%

Shares of NYSE ICE traded down $1.49 during mid-day trading on Friday, hitting $186.53. 2,783,624 shares of the company traded hands, compared to its average volume of 2,563,729. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The stock has a market capitalization of $106.77 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 2.23 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $181.66 and a two-hundred day moving average of $172.52.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating 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 business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $1.52 earnings per share. Intercontinental Exchange's revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm 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 dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.0%. Intercontinental Exchange's payout ratio is presently 36.85%.

About Intercontinental Exchange

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.