Intercontinental Exchange Inc. $ICE Stake Lifted by Tema Etfs LLC

Key Points

• Tema Etfs LLC increased its stake in Intercontinental Exchange Inc. by 45.7%, acquiring an additional 3,397 shares to bring its total holdings to 10,825 shares valued at approximately $1.87 million.
• Intercontinental Exchange reported a quarterly EPS of $1.81, exceeding estimates, with revenue of $3.26 billion, reflecting a year-over-year increase of 9.8%.
• The company announced a quarterly dividend of $0.48 per share, with a payout ratio of 36.85%, contributing to an annualized dividend yield of 1.1%.

Tema Etfs LLC lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 45.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,825 shares of the financial services provider's stock after acquiring an additional 3,397 shares during the quarter. Tema Etfs LLC's holdings in Intercontinental Exchange were worth $1,867,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. REAP Financial Group LLC raised its position in shares of Intercontinental Exchange by 116.7% during 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 shares of Intercontinental Exchange by 187.3% during 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 acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $29,000. Rakuten Securities Inc. raised its position in shares of Intercontinental Exchange by 595.8% during 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. acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $30,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Down 0.3%

Shares of ICE stock traded down $0.54 on Monday, reaching $176.60. 1,775,543 shares of the stock were exchanged, compared to its average volume of 2,915,306. The stock has a market cap of $101.09 billion, a P/E ratio of 33.90, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $182.07 and a two-hundred day moving average of $174.59. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm posted $1.52 EPS. The business's revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Activity

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction on 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 directly owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 1,570 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total transaction of $280,166.50. Following the sale, the chief financial officer directly owned 22,106 shares of the company's stock, valued at approximately $3,944,815.70. This trade represents a 6.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 449,993 shares of company stock worth $81,486,507 in the last quarter. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ICE. Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Barclays boosted their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. UBS Group boosted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Piper Sandler boosted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus 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.