New Age Alpha Advisors LLC Sells 9,032 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• New Age Alpha Advisors LLC has drastically reduced its stake in Intercontinental Exchange Inc. by 97.8%, leaving it with only 200 shares valued at approximately $34,000.
• Several institutional investors have increased their positions in Intercontinental Exchange, with REAP Financial Group LLC boosting its holdings by 116.7% in the last quarter.
• Intercontinental Exchange announced a quarterly dividend of $0.48 per share, reflecting a dividend yield of 1.0% and a payout ratio of 36.85%.

New Age Alpha Advisors LLC lowered its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 97.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200 shares of the financial services provider's stock after selling 9,032 shares during the period. New Age Alpha Advisors LLC's holdings in Intercontinental Exchange were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. Royal Bank of Canada boosted its holdings in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after purchasing an additional 5,204,309 shares during the period. Northern Trust Corp increased its position in shares of Intercontinental Exchange by 9.7% during the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock worth $1,105,953,000 after purchasing an additional 655,247 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Intercontinental Exchange by 50.6% in the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after buying an additional 1,993,084 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Intercontinental Exchange by 26.6% in the fourth quarter. Janus Henderson Group PLC now owns 5,721,604 shares of the financial services provider's stock valued at $852,578,000 after acquiring an additional 1,200,965 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in Intercontinental Exchange by 423.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after purchasing an additional 3,678,384 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

ICE has been the topic of several research reports. UBS Group upped their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. 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, July 15th. Barclays boosted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods boosted their price target 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. Finally, Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $194.92.

Insider Activity

In related news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the sale, the senior vice president owned 27,313 shares of the company's stock, valued at $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO James W. Namkung sold 612 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer owned 13,220 shares of the company's stock, valued at approximately $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 443,488 shares of company stock worth $80,323,823. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Down 0.5%

ICE stock traded down $0.98 during midday trading on Friday, hitting $181.71. The company's stock had a trading volume of 1,299,835 shares, compared to its average volume of 3,005,170. The company's fifty day moving average price is $181.97 and its 200 day moving average price is $173.23. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $104.01 billion, a P/E ratio of 34.88, a PEG ratio of 2.15 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 EPS. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.1%. Intercontinental Exchange's payout ratio is presently 36.85%.

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.