Jump Financial LLC Acquires 22,391 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Jump Financial LLC increased its stake in Intercontinental Exchange (ICE) by 10.2%, owning approximately $41.57 million worth of shares as of the end of the quarter.
• Several hedge funds significantly boosted their holdings in ICE, with Price T Rowe Associates increasing theirs by 491.3% during the first quarter.
• The company recently announced a quarterly dividend of $0.48 per share, representing a 1.1% yield, and has seen a year-over-year revenue increase of 9.8%.

Jump Financial LLC increased its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,964 shares of the financial services provider's stock after acquiring an additional 22,391 shares during the period. Intercontinental Exchange makes up approximately 0.6% of Jump Financial LLC's investment portfolio, making the stock its 9th biggest position. Jump Financial LLC's holdings in Intercontinental Exchange were worth $41,566,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock worth $9,132,211,000 after buying an additional 712,179 shares during the period. Royal Bank of Canada boosted its position in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after buying an additional 5,204,309 shares during the period. Northern Trust Corp raised its position in Intercontinental Exchange by 9.7% during the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock valued at $1,105,953,000 after buying an additional 655,247 shares during the period. Price T Rowe Associates Inc. MD raised its position in Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock valued at $1,109,780,000 after buying an additional 5,345,388 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after acquiring an additional 3,165,381 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. 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 boosted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Keefe, Bruyette & Woods lifted 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. Finally, Barclays upped their price objective 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. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $194.92.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $0.41 during trading on Tuesday, reaching $178.73. The company's stock had a trading volume of 2,578,914 shares, compared to its average volume of 3,230,776. The stock has a 50-day moving average price of $182.24 and a two-hundred day moving average price of $174.31. 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 one year low of $142.29 and a one year high of $189.35. The stock has a market capitalization of $102.31 billion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 2.14 and a beta of 1.11.

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

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.1%. Intercontinental Exchange's dividend payout ratio is presently 36.85%.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 1,570 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total transaction of $280,166.50. Following the completion of the sale, the chief financial officer owned 22,106 shares in the company, valued at approximately $3,944,815.70. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $283,968.00. Following the sale, the senior vice president owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 444,719 shares of company stock worth $80,546,996 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

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.