Partners Capital Investment Group LLP Takes $12.66 Million Position in Intercontinental Exchange Inc. $ICE

Key Points

• Partners Capital Investment Group LLP has acquired a new stake in Intercontinental Exchange Inc. valued at approximately $12.66 million, purchasing 73,364 shares during the first quarter.
• Intercontinental Exchange recently announced a quarterly dividend of $0.48, set to be paid on September 30th, marking a 1.1% yield for investors.
• Analysts have raised their price targets for Intercontinental Exchange stock, with UBS Group increasing theirs from $195.00 to $210.00, indicating a strong buy sentiment.

Partners Capital Investment Group LLP purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 73,364 shares of the financial services provider's stock, valued at approximately $12,655,000.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after purchasing an additional 1,169 shares during the period. First Trust Advisors LP lifted its position in Intercontinental Exchange by 703.3% in the 4th quarter. First Trust Advisors LP now owns 124,533 shares of the financial services provider's stock worth $18,557,000 after buying an additional 109,031 shares in the last quarter. MML Investors Services LLC lifted its position in Intercontinental Exchange by 3.0% in the 4th quarter. MML Investors Services LLC now owns 56,330 shares of the financial services provider's stock worth $8,394,000 after buying an additional 1,657 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Intercontinental Exchange by 15.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,464 shares of the financial services provider's stock valued at $367,000 after buying an additional 323 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Intercontinental Exchange by 0.9% during the 4th quarter. Stifel Financial Corp now owns 493,833 shares of the financial services provider's stock valued at $73,594,000 after buying an additional 4,326 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 completion of the transaction, the general counsel owned 48,480 shares of the company's stock, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James W. Namkung sold 612 shares of the stock in a transaction that occurred 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 442,936 shares of company stock worth $80,227,488. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Up 1.7%

Shares of ICE stock opened at $181.3540 on Thursday. The stock's 50 day simple moving average is $182.19 and its 200 day simple moving average is $173.81. 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 quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $103.81 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 2.13 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced 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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The company's revenue was up 9.8% on a year-over-year basis. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on ICE shares. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Barclays boosted their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, Piper Sandler raised their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $194.92.

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.

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