Hardy Reed LLC Sells 5,894 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Hardy Reed LLC decreased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 36.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,131 shares of the financial services provider's stock after selling 5,894 shares during the period. Hardy Reed LLC's holdings in Intercontinental Exchange were worth $1,748,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Governors Lane LP lifted its stake in Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock valued at $18,939,000 after acquiring an additional 59,500 shares during the period. Tema Etfs LLC bought a new position in Intercontinental Exchange during the 4th quarter valued at about $1,107,000. Ilmarinen Mutual Pension Insurance Co lifted its stake in Intercontinental Exchange by 61.0% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 157,800 shares of the financial services provider's stock valued at $23,514,000 after acquiring an additional 59,800 shares during the period. Capital Investment Advisory Services LLC bought a new position in Intercontinental Exchange during the 1st quarter valued at about $349,000. Finally, Sequoia Financial Advisors LLC lifted its stake in Intercontinental Exchange by 18.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock valued at $2,099,000 after acquiring an additional 1,879 shares during the period. Institutional investors own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, June 12th. The shares were 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 $4,847,511.24. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total transaction of $145,723.50. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at $2,749,500. The trade was a 5.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 226,119 shares of company stock valued at $40,524,217 in the last 90 days. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ICE. Keefe, Bruyette & Woods upped their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Bank of America reduced their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Barclays upped their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $194.42.

Intercontinental Exchange Price Performance

ICE traded down $1.28 during trading on Friday, reaching $180.66. 2,482,973 shares of the company traded hands, compared to its average volume of 2,945,226. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $183.99. The firm has a fifty day simple moving average of $178.91 and a 200 day simple moving average of $168.45. The company has a market cap of $103.63 billion, a P/E ratio of 37.40, a PEG ratio of 1.99 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the firm posted $1.48 EPS. The company's revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

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.