Intercontinental Exchange Inc. (NYSE:ICE) Stock Position Lifted by Meeder Advisory Services Inc.

Key Points

• Meeder Advisory Services Inc. increased its stake in Intercontinental Exchange Inc. by 17.4% during the first quarter, acquiring an additional 1,783 shares, bringing its total holdings to 12,037 shares worth about $2,076,000.
• Intercontinental Exchange reported quarterly earnings of $1.72 EPS, surpassing analysts' expectations, with revenue reaching $2.47 billion, an increase of 8.0% year-over-year.
• Several analysts have recently raised their price targets for Intercontinental Exchange, with UBS Group setting a new target of $210.00 and maintaining a "buy" rating.

Meeder Advisory Services Inc. grew its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 17.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,037 shares of the financial services provider's stock after purchasing an additional 1,783 shares during the quarter. Meeder Advisory Services Inc.'s holdings in Intercontinental Exchange were worth $2,076,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after acquiring an additional 1,169 shares during the period. Allianz SE bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $240,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Intercontinental Exchange by 8.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 62,846 shares of the financial services provider's stock valued at $9,365,000 after purchasing an additional 4,857 shares in the last quarter. Alliancebernstein L.P. lifted its position in Intercontinental Exchange by 8.6% during the fourth quarter. Alliancebernstein L.P. now owns 1,782,897 shares of the financial services provider's stock valued at $265,669,000 after purchasing an additional 141,470 shares during the last quarter. Finally, Summit Financial LLC grew its position in Intercontinental Exchange by 14.7% in the fourth quarter. Summit Financial LLC now owns 5,828 shares of the financial services provider's stock worth $868,000 after acquiring an additional 747 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Up 0.8%

Shares of ICE stock traded up $1.47 during trading hours on Wednesday, hitting $186.18. The company had a trading volume of 3,506,659 shares, compared to its average volume of 1,871,467. The stock has a market capitalization of $106.80 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. The company's fifty day moving average is $180.10 and its 200 day moving average is $170.55. 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 earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.48 EPS. Research 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.03%. Intercontinental Exchange's payout ratio is 39.75%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Bank of America reduced their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. 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 report on Friday, May 2nd. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $194.42.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sharon Bowen sold 794 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $185.00, for a total transaction of $146,890.00. Following the sale, the director owned 14,206 shares in the company, valued at $2,628,110. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 226,913 shares of company stock worth $40,671,107. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange 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.