Qtron Investments LLC Sells 2,860 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Qtron Investments LLC has reduced its stake in Intercontinental Exchange Inc. (ICE) by 32%, now holding 6,069 shares valued at approximately $1,047,000.
• Several hedge funds have increased their investments in ICE, with notable boosts from REAP Financial Group (116.7%) and Rakuten Securities Inc. (595.8%) recently reported.
• Wall Street analysts have upgraded their price targets for ICE, with Morgan Stanley raising it to $192.00 and Barclays to $212.00, reflecting a generally favorable outlook on the stock.

Qtron Investments LLC lowered its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 32.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,069 shares of the financial services provider's stock after selling 2,860 shares during the period. Qtron Investments LLC's holdings in Intercontinental Exchange were worth $1,047,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ICE. REAP Financial Group LLC boosted its stake in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after acquiring an additional 91 shares in the last quarter. Tsfg LLC raised its holdings in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares during the last quarter. Menard Financial Group LLC purchased a new position in Intercontinental Exchange in the fourth quarter worth about $29,000. Rakuten Securities Inc. raised its holdings in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 143 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in Intercontinental Exchange in the first quarter worth about $30,000. Institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ICE shares. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Barclays boosted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, UBS Group boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average target price of $194.92.

Intercontinental Exchange Trading Down 0.9%

Shares of ICE opened at $181.12 on Monday. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a market cap of $103.68 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.15 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. The company's fifty day simple moving average is $182.02 and its 200-day simple moving average is $173.60.

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 for the quarter, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. As a group, analysts expect 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 will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.1%. Intercontinental Exchange's dividend payout ratio is presently 36.85%.

Insider Buying and Selling

In other news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the sale, the senior vice president directly owned 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the completion of the sale, the chief executive officer owned 1,951,705 shares in the company, valued at $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 443,488 shares of company stock worth $80,323,823 over the last ninety days. 1.00% of the stock is owned by insiders.

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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