Forbes J M & Co. LLP Has $13.70 Million Stake in Intercontinental Exchange Inc. (NYSE:ICE)

Forbes J M & Co. LLP boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 4.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,404 shares of the financial services provider's stock after purchasing an additional 3,137 shares during the quarter. Intercontinental Exchange comprises about 1.3% of Forbes J M & Co. LLP's investment portfolio, making the stock its 25th largest holding. Forbes J M & Co. LLP's holdings in Intercontinental Exchange were worth $13,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Oak Thistle LLC bought a new stake in shares of Intercontinental Exchange in the first quarter worth about $972,000. First National Bank of Hutchinson increased its holdings in shares of Intercontinental Exchange by 53.6% in the first quarter. First National Bank of Hutchinson now owns 5,447 shares of the financial services provider's stock worth $940,000 after acquiring an additional 1,900 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Intercontinental Exchange by 2.6% in the first quarter. KLP Kapitalforvaltning AS now owns 195,485 shares of the financial services provider's stock worth $33,721,000 after acquiring an additional 5,000 shares in the last quarter. VCI Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the first quarter worth about $1,211,000. Finally, United Bank increased its holdings in shares of Intercontinental Exchange by 1.5% in the first quarter. United Bank now owns 12,842 shares of the financial services provider's stock worth $2,215,000 after acquiring an additional 196 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the transaction, the senior vice president directly owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the transaction, the chief executive officer directly owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 226,119 shares of company stock valued at $40,524,217. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

ICE has been the subject of several recent analyst reports. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Bank of America lowered their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley upped their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report 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 MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and an average target price of $194.42.

Intercontinental Exchange Stock Up 0.5%

NYSE ICE traded up $0.94 during trading hours on Friday, hitting $184.52. 2,588,779 shares of the company traded hands, compared to its average volume of 1,851,322. The business's 50-day moving average is $179.80 and its 200-day moving average is $169.84. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $185.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $105.84 billion, a price-to-earnings ratio of 38.20, a P/E/G ratio of 2.01 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The business's quarterly revenue was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.04%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

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.