Quantitative Investment Management LLC Has $3.99 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Quantitative Investment Management LLC increased its stake in Intercontinental Exchange (ICE) by 17.3%, acquiring an additional 3,404 shares and bringing its total holdings to 23,135 shares, valued at approximately $3.99 million.
• Analysts have raised price targets for ICE, with Piper Sandler setting it at $202.00 and UBS Group at $210.00, while the stock currently holds a consensus rating of "Moderate Buy".
• Intercontinental Exchange declared a quarterly dividend of $0.48 per share, reflecting a yield of 1.1%, with a payout ratio of 36.85%.

Quantitative Investment Management LLC increased its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 17.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,135 shares of the financial services provider's stock after purchasing an additional 3,404 shares during the period. Quantitative Investment Management LLC's holdings in Intercontinental Exchange were worth $3,990,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ICE. REAP Financial Group LLC raised its position in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares during the last quarter. Tsfg LLC raised its position in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after purchasing an additional 103 shares during the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. raised its position in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange in the 1st quarter worth approximately $30,000. Institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

ICE has been the subject of several recent research reports. UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Piper Sandler upped their target price 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 upped their target price on shares of 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 target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley upped their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and an average price target of $194.92.

Intercontinental Exchange Trading Down 0.2%

Shares of ICE stock traded down $0.41 on Tuesday, hitting $178.73. The stock had a trading volume of 2,578,914 shares, compared to its average volume of 3,230,776. The firm has a market cap of $102.31 billion, a P/E ratio of 34.30, a PEG ratio of 2.14 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. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a fifty day moving average price of $182.19 and a two-hundred day moving average price of $174.34.

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, topping analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. As a group, analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.1%. Intercontinental Exchange's payout ratio is presently 36.85%.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel directly owned 48,480 shares of the company's stock, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sharon Bowen sold 795 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total transaction of $145,723.50. Following the completion of the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $2,749,500. The trade was a 5.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 444,719 shares of company stock worth $80,546,996. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange 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.