Picton Mahoney Asset Management Buys 3,851 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Picton Mahoney Asset Management increased its holdings in Intercontinental Exchange Inc. by 7.6%, owning 54,244 shares worth approximately $9.36 million as of the latest SEC filing.
• Intercontinental Exchange reported earnings of $1.72 per share for the last quarter, exceeding analyst expectations and showing an 8% year-over-year revenue growth.
• The company has a dividend yield of 1.05%, with a recent quarterly dividend of $0.48 per share, indicating a healthy return for shareholders.

Picton Mahoney Asset Management boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,244 shares of the financial services provider's stock after acquiring an additional 3,851 shares during the quarter. Picton Mahoney Asset Management's holdings in Intercontinental Exchange were worth $9,360,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ICE. REAP Financial Group LLC increased its holdings in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the period. Tsfg LLC increased its holdings in shares of Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the period. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $29,000. Rakuten Securities Inc. increased its holdings in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the period. Finally, Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the first quarter valued at $31,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Up 0.8%

Shares of NYSE:ICE traded up $1.47 during mid-day trading on Wednesday, hitting $186.18. The stock had a trading volume of 3,506,659 shares, compared to its average volume of 2,977,617. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $187.38. The company has a market cap of $106.80 billion, a PE ratio of 38.55, a P/E/G ratio of 2.00 and a beta of 1.11. 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 company's 50 day moving average is $180.10 and its 200-day moving average is $170.55.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $2.44 billion. During the same period last year, the company posted $1.48 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.03%. Intercontinental Exchange's payout ratio is presently 39.75%.

Analyst Ratings Changes

A number of brokerages have recently commented on ICE. Keefe, Bruyette & Woods raised 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. Barclays boosted their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley lifted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $194.42.

Insider Activity

In related news, Director Sharon Bowen sold 794 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $185.00, for a total value of $146,890.00. Following the completion of the sale, the director owned 14,206 shares of the company's stock, valued at approximately $2,628,110. The trade was a 5.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO James W. Namkung sold 612 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the sale, the chief accounting officer directly owned 13,220 shares of the company's stock, valued at approximately $2,379,600. The trade was a 4.42% decrease in their position. 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.

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.