1,634 Shares in Intercontinental Exchange Inc. (NYSE:ICE) Bought by Johnson Financial Group LLC

Key Points

• Johnson Financial Group LLC has acquired 1,634 shares of Intercontinental Exchange Inc. (NYSE:ICE), valued at approximately $282,000, marking a new investment in the company.
• Analysts have increased their target prices for ICE, with Morgan Stanley raising their estimate to $192.00 and UBS Group increasing theirs to $210.00, indicating a strong buying interest.
• Intercontinental Exchange recently reported an earnings per share of $1.81, surpassing estimates, and will distribute a quarterly dividend of $0.48 on September 30th.

Johnson Financial Group LLC acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,634 shares of the financial services provider's stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICE. 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 shares of Intercontinental Exchange in the 4th quarter worth approximately $1,107,000. Capital Investment Advisory Services LLC bought a new position in shares of Intercontinental Exchange in the 1st quarter worth approximately $349,000. Sequoia Financial Advisors LLC lifted its stake in shares of Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after purchasing an additional 1,879 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,949,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president directly owned 27,313 shares in the company, valued at $4,847,511.24. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sharon Bowen sold 794 shares of the stock in a transaction dated Friday, July 25th. The shares were 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. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,913 shares of company stock valued at $40,671,107 in the last three months. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Down 0.2%

Shares of ICE traded down $0.42 during midday trading on Monday, hitting $185.98. The company had a trading volume of 2,036,911 shares, compared to its average volume of 2,624,064. The firm has a market capitalization of $106.46 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.21 and a beta of 1.11. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company's 50-day simple moving average is $181.78 and its 200-day simple moving average is $172.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company 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 $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.0%. Intercontinental Exchange's dividend payout ratio (DPR) is 36.85%.

Analyst Ratings Changes

ICE has been the topic of several recent research reports. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Barclays increased their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. 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 report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

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.