Intercontinental Exchange Inc. (NYSE:ICE) Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its holdings in Intercontinental Exchange by 31.7% during the first quarter, now owning 3,575,859 shares valued at $616,836,000.
• Other institutional investors have also significantly increased their stakes, with Royal Bank of Canada adding 132.9% and GAMMA Investing LLC boosting holdings by an astonishing 24,394.4% in the first quarter.
• Intercontinental Exchange reported a quarterly EPS of $1.81, exceeding estimates, and their recent dividend announcement is set at $0.48 per share, representing a yield of 1.0%.

Goldman Sachs Group Inc. boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 31.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,575,859 shares of the financial services provider's stock after purchasing an additional 861,679 shares during the period. Goldman Sachs Group Inc. owned approximately 0.62% of Intercontinental Exchange worth $616,836,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ICE. REAP Financial Group LLC raised its stake in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares during the period. Tsfg LLC raised its stake in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares during the period. Menard Financial Group LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at $29,000. Rakuten Securities Inc. raised its stake in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were 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 directly owned 48,480 shares of the company's stock, valued at $8,683,737.60. This trade represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction 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 approximately $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,913 shares of company stock worth $40,671,107 over the last 90 days. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Down 0.8%

ICE stock traded down $1.49 during mid-day trading on Friday, hitting $186.53. 2,783,624 shares of the company were exchanged, compared to its average volume of 2,563,729. The company has a market capitalization of $106.77 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 2.23 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. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The firm has a fifty day simple moving average of $181.66 and a 200 day simple moving average of $172.52.

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

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.0%. Intercontinental Exchange's dividend payout ratio is currently 36.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler raised their target price on shares of 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 raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. UBS Group raised their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Barclays raised their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Morgan Stanley raised their price target on shares of 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.