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3,335,554 Shares in Intercontinental Exchange Inc. (NYSE:ICE) Purchased by Nuveen LLC

Intercontinental Exchange logo with Finance background

Key Points

  • Nuveen LLC has acquired a significant stake in Intercontinental Exchange Inc. valued at approximately $575.38 million, owning about 0.58% of the company as of its latest SEC filing.
  • Other institutional investors, including Vanguard Group and Royal Bank of Canada, have also increased their holdings in Intercontinental Exchange, which is now owned 89.30% by institutional and hedge fund investors.
  • Intercontinental Exchange recently announced a quarterly dividend of $0.48 per share, representing an annualized yield of 1.0%, while also reporting a 9.8% year-over-year revenue increase in their latest earnings results.
  • Want stock alerts on Intercontinental Exchange? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Nuveen LLC purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,335,554 shares of the financial services provider's stock, valued at approximately $575,383,000. Nuveen LLC owned approximately 0.58% of Intercontinental Exchange as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Strengthening Families & Communities LLC lifted its holdings in shares of Intercontinental Exchange by 6.8% during the 1st quarter. Strengthening Families & Communities LLC now owns 5,827 shares of the financial services provider's stock valued at $985,000 after buying an additional 371 shares during the last quarter. King Luther Capital Management Corp raised its holdings in Intercontinental Exchange by 7.3% during the first quarter. King Luther Capital Management Corp now owns 245,768 shares of the financial services provider's stock valued at $42,395,000 after buying an additional 16,661 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Intercontinental Exchange by 3.8% in the first quarter. Virtu Financial LLC now owns 16,267 shares of the financial services provider's stock worth $2,806,000 after buying an additional 602 shares during the last quarter. True North Advisors LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter worth about $221,000. Finally, Johnson Financial Group LLC bought a new stake in Intercontinental Exchange during the first quarter worth approximately $282,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $1.02 during mid-day trading on Thursday, hitting $182.43. The company's stock had a trading volume of 2,033,685 shares, compared to its average volume of 2,990,128. The company has a market capitalization of $104.43 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 2.17 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock has a fifty day moving average of $181.89 and a 200-day moving average of $173.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion during 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%. Intercontinental Exchange's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. UBS Group upped their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays increased their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Morgan Stanley boosted 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 equities research analysts have rated the stock with a hold rating and ten have issued 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 an average target price of $194.92.

Get Our Latest Stock Analysis on Intercontinental Exchange

Insider Buying and Selling

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the sale, the chief executive officer owned 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sharon Bowen sold 794 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $185.00, for a total value of $146,890.00. Following the completion of the transaction, the director directly 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. Insiders have sold 226,913 shares of company stock worth $40,671,107 in the last three months. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Company Profile

(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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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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