Liontrust Investment Partners LLP decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 46.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,092 shares of the financial services provider's stock after selling 2,707 shares during the period. Liontrust Investment Partners LLP's holdings in Intercontinental Exchange were worth $533,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of ICE. Governors Lane LP lifted its holdings in Intercontinental Exchange by 88.0% in the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock worth $18,939,000 after acquiring an additional 59,500 shares during the last quarter. Tema Etfs LLC purchased a new position in Intercontinental Exchange during the 4th quarter worth approximately $1,107,000. Capital Investment Advisory Services LLC purchased a new position in shares of Intercontinental Exchange during the 1st quarter valued at $349,000. Sequoia Financial Advisors LLC grew its holdings in shares of 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 in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in Intercontinental Exchange during the 4th quarter worth $28,949,000. Institutional investors own 89.30% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Barclays boosted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, UBS Group lifted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $194.92.
Check Out Our Latest Analysis on ICE
Intercontinental Exchange Stock Performance
Shares of ICE traded up $0.0980 during trading hours on Tuesday, hitting $178.0380. The company's stock had a trading volume of 2,580,432 shares, compared to its average volume of 3,016,693. The business has a 50 day simple moving average of $182.07 and a two-hundred day simple moving average of $173.73. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a market cap of $101.91 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.15 and a beta of 1.11.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.
Intercontinental Exchange Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.1%. Intercontinental Exchange's dividend payout ratio is 36.85%.
Insiders Place Their Bets
In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the transaction, the chief accounting officer directly owned 13,220 shares in the company, valued at $2,379,600. This represents a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the sale, the chief executive officer owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 443,488 shares of company stock worth $80,323,823 over the last ninety days. 1.00% of the stock is owned by company insiders.
Intercontinental Exchange Company Profile
(
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.
Further Reading
Before you consider Intercontinental Exchange, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Intercontinental Exchange wasn't on the list.
While Intercontinental Exchange currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
MarketBeat All Access