Quantbot Technologies LP Sells 29,823 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Quantbot Technologies LP reduced its stake in Intercontinental Exchange Inc. by 42.5%, selling 29,823 shares and bringing their total ownership down to 40,392 shares valued at approximately $6.97 million.
• Major institutional investors like Vanguard Group and Royal Bank of Canada have increased their positions significantly, with Vanguard now owning over 52 million shares valued at over $9 billion.
• Intercontinental Exchange plans to pay a quarterly dividend of $0.48 per share on September 30, resulting in a 1.1% dividend yield and reflecting a payout ratio of 36.85%.

Quantbot Technologies LP lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 42.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,392 shares of the financial services provider's stock after selling 29,823 shares during the period. Quantbot Technologies LP's holdings in Intercontinental Exchange were worth $6,968,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Intercontinental Exchange by 132.9% during the fourth 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 acquiring an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Intercontinental Exchange by 423.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after acquiring an additional 3,678,384 shares during the last quarter. Nuveen LLC bought a new stake in shares of Intercontinental Exchange during the 1st quarter valued at about $575,383,000. Wellington Management Group LLP boosted its position in shares of Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Intercontinental Exchange by 24,394.4% in the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock valued at $3,906,700,000 after buying an additional 2,255,507 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ICE shares. Piper Sandler raised their price target 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. Barclays raised their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley raised their price objective 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. Finally, UBS Group upped their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average target price of $194.92.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 444,506 shares of company stock valued at $80,507,655. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded up $1.3760 during mid-day trading on Friday, reaching $180.6060. 2,247,807 shares of the company were exchanged, compared to its average volume of 3,210,406. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company's 50 day moving average price is $182.25 and its 200 day moving average price is $174.08. The stock has a market capitalization of $103.38 billion, a PE ratio of 34.67, a PEG ratio of 2.14 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating 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 business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the business posted $1.52 earnings per share. The company's revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 currently 36.85%.

About Intercontinental Exchange

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.