MQS Management LLC acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,417 shares of the financial services provider's stock, valued at approximately $417,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of ICE. Brighton Jones LLC raised its stake in shares of Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after buying an additional 1,169 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Intercontinental Exchange by 37.1% during the fourth quarter. Proficio Capital Partners LLC now owns 2,238 shares of the financial services provider's stock worth $333,000 after purchasing an additional 606 shares during the period. Farther Finance Advisors LLC raised its position in shares of Intercontinental Exchange by 19.6% during the fourth quarter. Farther Finance Advisors LLC now owns 5,248 shares of the financial services provider's stock worth $782,000 after purchasing an additional 860 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Intercontinental Exchange by 6.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 39,921 shares of the financial services provider's stock worth $5,949,000 after purchasing an additional 2,469 shares during the period. Finally, Intact Investment Management Inc. raised its position in shares of Intercontinental Exchange by 41.1% during the fourth quarter. Intact Investment Management Inc. now owns 4,700 shares of the financial services provider's stock worth $700,000 after purchasing an additional 1,370 shares during the period. Institutional investors own 89.30% of the company's stock.
Insider Activity at Intercontinental Exchange
In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares in the company, valued at $8,683,737.60. This represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the sale, the chief executive officer owned 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 226,119 shares of company stock worth $40,524,217 in the last 90 days. Insiders own 1.00% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on ICE shares. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday. Barclays boosted their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley boosted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, UBS Group boosted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average price target of $194.42.
Read Our Latest Analysis on ICE
Intercontinental Exchange Stock Up 0.2%
Shares of ICE traded up $0.37 during trading hours on Thursday, hitting $181.17. 427,097 shares of the company were exchanged, compared to its average volume of 2,941,212. The company has a market cap of $103.93 billion, a PE ratio of 37.45, a PEG ratio of 1.98 and a beta of 1.11. The firm's 50 day moving average is $178.80 and its 200-day moving average is $168.22. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $183.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 EPS. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.
Intercontinental Exchange Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.
About Intercontinental Exchange
(
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.
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