Moors & Cabot Inc. decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 17.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,254 shares of the financial services provider's stock after selling 2,413 shares during the period. Moors & Cabot Inc.'s holdings in Intercontinental Exchange were worth $1,941,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Fielder Capital Group LLC raised its stake in shares of Intercontinental Exchange by 2.2% in the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after buying an additional 61 shares in the last quarter. Berkeley Capital Partners LLC raised its holdings in shares of Intercontinental Exchange by 1.1% in the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after buying an additional 62 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in Intercontinental Exchange by 17.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 63 shares in the last quarter. Values Added Financial LLC boosted its position in shares of Intercontinental Exchange by 4.4% in the 1st quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock worth $264,000 after purchasing an additional 64 shares during the last quarter. Finally, MV Capital Management Inc. raised its stake in shares of Intercontinental Exchange by 15.7% in the 1st quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.
Intercontinental Exchange Trading Down 0.2%
Shares of NYSE:ICE traded down $0.35 during trading on Friday, reaching $184.48. The stock had a trading volume of 3,795,662 shares, compared to its average volume of 2,322,409. The business has a fifty day moving average price of $180.71 and a 200-day moving average price of $171.37. 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 stock has a market cap of $105.60 billion, a P/E ratio of 35.41, a PEG ratio of 2.03 and a beta of 1.11. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $187.38.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) 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 the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 earnings per share. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.
Intercontinental Exchange Announces Dividend
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.0%. Intercontinental Exchange's dividend payout ratio (DPR) is 39.75%.
Insider Activity at Intercontinental Exchange
In other Intercontinental Exchange news, Director Sharon Bowen sold 794 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $185.00, for a total transaction of $146,890.00. Following the sale, the director directly owned 14,206 shares of the company's stock, valued at approximately $2,628,110. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James W. Namkung sold 612 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer directly owned 13,220 shares in the company, valued at $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,913 shares of company stock valued at $40,671,107 in the last ninety days. 1.00% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. UBS Group raised their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Barclays increased their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Morgan Stanley raised their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $194.92.
Check Out Our Latest Stock Report on ICE
Intercontinental Exchange Company Profile
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Free Report)
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.
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