Mediolanum International Funds Ltd Has $32.79 Million Position in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Mediolanum International Funds Ltd significantly increased its stake in Intercontinental Exchange Inc. by 88.9%, purchasing an additional 88,322 shares, bringing its total holdings to 187,680 shares valued at $32.79 million.
• Several institutional investors, including Royal Bank of Canada and Norges Bank, have also made substantial investments in Intercontinental Exchange, contributing to a total institutional ownership of approximately 89.30%.
• Analysts have shown positive sentiment towards the stock, with a consensus rating of “Moderate Buy” and a price target averaging around $194.42, despite some varying projections from different firms.

Mediolanum International Funds Ltd increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 88.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,680 shares of the financial services provider's stock after purchasing an additional 88,322 shares during the period. Mediolanum International Funds Ltd's holdings in Intercontinental Exchange were worth $32,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tsfg LLC grew its position in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the period. Rakuten Securities Inc. boosted its holdings in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares during the last quarter. REAP Financial Group LLC boosted its holdings in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in Intercontinental Exchange in the first quarter valued at $31,000. Finally, Menard Financial Group LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president directly owned 27,313 shares in the company, valued at $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sharon Bowen sold 795 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total value of $145,723.50. Following the sale, the director owned 15,000 shares of the company's stock, valued at $2,749,500. This trade represents a 5.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 226,913 shares of company stock valued at $40,671,107. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ICE. Barclays lifted their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price objective on 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 boosted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $194.42.

Intercontinental Exchange Stock Up 1.2%

Intercontinental Exchange stock traded up $2.17 during midday trading on Wednesday, hitting $186.88. The stock had a trading volume of 1,192,933 shares, compared to its average volume of 2,960,732. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The stock has a market cap of $107.20 billion, a P/E ratio of 38.69, a P/E/G ratio of 2.00 and a beta of 1.11. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $187.03. The business has a fifty day moving average price of $180.10 and a 200 day moving average price of $170.55.

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 for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. Intercontinental Exchange's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 earnings per share. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.03%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

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.