Pictet Asset Management Holding SA Grows Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Pictet Asset Management raised its stake in Intercontinental Exchange (ICE) by 4.3% in Q4 to 379,839 shares, worth about $61.53 million (roughly 0.07% of the company).
• Company insiders sold 348,418 shares totaling about $54.20 million last quarter (insiders now own 0.84% of the stock), including sizable sales by Christopher S. Edmonds and Lynn C. Martin.
• ICE topped quarterly estimates with EPS of $1.71 versus $1.67 and revenue of $3.14B, declared a $0.52 quarterly dividend (1.3% yield), and carries a consensus analyst rating of "Buy" with an average target of $193.80.

Pictet Asset Management Holding SA raised its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 379,839 shares of the financial services provider's stock after buying an additional 15,602 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of Intercontinental Exchange worth $61,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dorato Capital Management purchased a new position in Intercontinental Exchange in the fourth quarter valued at $29,000. Steph & Co. increased its holdings in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after buying an additional 89 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at $28,000. Caitlin John LLC purchased a new position in Intercontinental Exchange in the third quarter valued at $32,000. Finally, Eagle Bay Advisors LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Activity

In related news, insider Christopher Scott Edmonds sold 11,303 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the transaction, the insider directly owned 14,266 shares in the company, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lynn C. Martin sold 13,456 shares of Intercontinental Exchange stock in a transaction on Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the sale, the insider owned 54,319 shares in the company, valued at $8,357,521.34. This represents a 19.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 348,418 shares of company stock worth $54,196,631. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Stock Down 0.5%

NYSE ICE opened at $156.24 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The business's fifty day simple moving average is $160.11 and its 200-day simple moving average is $160.03. The firm has a market cap of $88.50 billion, a PE ratio of 27.08, a P/E/G ratio of 1.63 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same period last year, the business earned $1.52 earnings per share. Intercontinental Exchange's revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.06 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 36.05%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. UBS Group reiterated a "buy" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $180.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective on the stock in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $193.80.

Intercontinental Exchange Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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