25,000 Shares in Intercontinental Exchange Inc. (NYSE:ICE) Purchased by Pacific Capital Partners Ltd

Pacific Capital Partners Ltd acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,000 shares of the financial services provider's stock, valued at approximately $4,312,000. Intercontinental Exchange accounts for 2.7% of Pacific Capital Partners Ltd's investment portfolio, making the stock its 15th largest holding.

A number of other hedge funds have also recently modified their holdings of the business. Royal Bank of Canada raised its stake in shares of Intercontinental Exchange by 132.9% during 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 buying an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position 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 valued at $677,465,000 after purchasing an additional 3,678,384 shares during the period. GAMMA Investing LLC increased its position in shares of Intercontinental Exchange by 24,394.4% during the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after acquiring an additional 2,255,507 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Intercontinental Exchange by 50.6% during the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after purchasing an additional 1,993,084 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in 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 in the last quarter. Institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ICE. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Barclays lifted their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Bank of America dropped their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $194.42.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel directly owned 48,480 shares in the company, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the transaction, the senior vice president directly owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,913 shares of company stock valued at $40,671,107. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

Shares of ICE traded up $1.47 during trading hours on Wednesday, hitting $186.18. The stock had a trading volume of 3,506,659 shares, compared to its average volume of 1,871,467. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $187.38. The company's fifty day moving average is $180.10 and its two-hundred day moving average is $170.55. 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 stock has a market capitalization of $106.80 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 2.02 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced 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 net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the company posted $1.48 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.03%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

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.