Intercontinental Exchange Inc. (NYSE:ICE) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its holdings in Intercontinental Exchange by 16.2% in the first quarter, selling 93,304 shares and ending with 484,417 shares valued at approximately $83.56 million.
• A significant number of other institutional investors, including Royal Bank of Canada and Geode Capital Management LLC, have recently increased their stakes in Intercontinental Exchange.
• Intercontinental Exchange reported a net margin of 22.84% and plans to pay a quarterly dividend of $0.48 per share, reflecting a 1.04% yield.

TD Asset Management Inc lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 16.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 484,417 shares of the financial services provider's stock after selling 93,304 shares during the period. TD Asset Management Inc owned 0.08% of Intercontinental Exchange worth $83,562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in 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 buying an additional 91 shares during the last quarter. Tsfg LLC boosted its stake in Intercontinental Exchange by 187.3% during 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 acquired a new position in Intercontinental Exchange during the fourth quarter worth $29,000. Rakuten Securities Inc. boosted its stake in Intercontinental Exchange by 595.8% during 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, Global Trust Asset Management LLC purchased a new stake in Intercontinental Exchange in the first quarter valued at $31,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Trading Down 1.0%

NYSE:ICE traded down $1.81 on Monday, reaching $182.63. 2,353,437 shares of the company's stock were exchanged, compared to its average volume of 1,873,904. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $104.76 billion, a price-to-earnings ratio of 37.81, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11. The business has a fifty day moving average of $179.92 and a 200-day moving average of $170.45. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $185.29.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. As a group, 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 was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is 39.75%.

Insider Activity 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 stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel owned 48,480 shares in the company, valued at $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 available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the sale, the chief executive officer owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,119 shares of company stock worth $40,524,217 over the last quarter. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

ICE has been the topic of a number of research analyst reports. Piper Sandler lifted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Morgan Stanley lifted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Barclays lifted their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Finally, UBS Group lifted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $194.42.

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.