Rathbones Group PLC Acquires 69,415 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Rathbones Group PLC increased its stake in Intercontinental Exchange Inc. by 14.6%, acquiring an additional 69,415 shares, bringing their total ownership to 545,959 shares valued at approximately $94.18 million.
• Intercontinental Exchange recently reported quarterly earnings of $1.81 per share, exceeding analysts' expectations of $1.77, with revenue of $3.26 billion.
• The company has declared a quarterly dividend of $0.48, representing a 1.0% dividend yield and an annualized payout of $1.92.

Rathbones Group PLC lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 14.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545,959 shares of the financial services provider's stock after purchasing an additional 69,415 shares during the period. Rathbones Group PLC owned 0.10% of Intercontinental Exchange worth $94,178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ICE. Brighton Jones LLC increased its stake in shares of Intercontinental Exchange by 51.3% in the 4th 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 in the last quarter. Townsquare Capital LLC increased its stake in Intercontinental Exchange by 16.7% in the 4th quarter. Townsquare Capital LLC now owns 12,060 shares of the financial services provider's stock worth $1,797,000 after buying an additional 1,725 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth $1,748,000. Stamos Capital Partners L.P. increased its stake in Intercontinental Exchange by 222.4% in the 4th quarter. Stamos Capital Partners L.P. now owns 5,030 shares of the financial services provider's stock worth $750,000 after buying an additional 3,470 shares in the last quarter. Finally, Synovus Financial Corp increased its stake in Intercontinental Exchange by 2.3% in the 4th quarter. Synovus Financial Corp now owns 34,638 shares of the financial services provider's stock worth $5,162,000 after buying an additional 764 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 0.9%

Shares of NYSE:ICE traded down $1.56 during trading hours on Friday, hitting $181.12. 2,840,944 shares of the company's stock traded hands, compared to its average volume of 3,072,402. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The business has a fifty day moving average price of $182.02 and a 200-day moving average price of $173.39. The firm has a market capitalization of $103.68 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

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, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.1%. Intercontinental Exchange's dividend payout ratio is presently 36.85%.

Insider Activity

In other news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the sale, the senior vice president directly owned 27,313 shares of the company's stock, valued at $4,847,511.24. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 443,488 shares of company stock valued at $80,323,823. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

ICE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased 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. Piper Sandler increased 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. Barclays increased 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. UBS Group increased 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. Finally, Morgan Stanley increased 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and an average target price of $194.92.

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.