Morningstar Investment Management LLC Purchases 2,348 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Morningstar Investment Management LLC increased its stake in Intercontinental Exchange Inc. by 28.7% during the 1st quarter, owning a total of 10,528 shares valued at approximately $1.8 million.
• The company reported an earnings per share (EPS) of $1.72 for the last quarter, exceeding estimates and demonstrating an 8% increase in year-over-year revenue.
• Intercontinental Exchange recently declared a quarterly dividend of $0.48 per share, representing an annualized yield of 1.05% and a dividend payout ratio of approximately 39.75%.

Morningstar Investment Management LLC boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 28.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,528 shares of the financial services provider's stock after acquiring an additional 2,348 shares during the quarter. Morningstar Investment Management LLC's holdings in Intercontinental Exchange were worth $1,816,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ICE. REAP Financial Group LLC increased its position in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Tsfg LLC increased its position in shares of Intercontinental Exchange by 187.3% during the 1st 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 last quarter. Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $29,000. Rakuten Securities Inc. increased its position in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new position in shares of Intercontinental Exchange during the 1st quarter valued at about $31,000. 89.30% of the stock is currently owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the transaction, the chief executive officer owned 2,101,705 shares in the company, valued at $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sharon Bowen sold 795 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total value of $145,723.50. Following the completion of the transaction, the director owned 15,000 shares of the company's stock, valued at $2,749,500. This represents a 5.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,913 shares of company stock valued at $40,671,107. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Up 0.8%

Intercontinental Exchange stock traded up $1.47 during mid-day trading on Wednesday, hitting $186.18. The company had a trading volume of 3,506,659 shares, compared to its average volume of 2,977,617. 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's 50 day moving average price is $180.10 and its two-hundred day moving average price is $170.55. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $187.38. The company has a market capitalization of $106.80 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 2.00 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.03%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ICE shares. Morgan Stanley increased their target price on 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 cut their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Barclays lifted their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $194.42.

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.