Trillium Asset Management LLC Grows Position in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Trillium Asset Management LLC has increased its holdings in Intercontinental Exchange Inc. by 14.8%, now owning 242,760 shares valued at approximately $41.9 million.
• Research analysts have begun to raise their price targets for Intercontinental Exchange, with the average target estimated at $194.92 and a consensus rating of "Moderate Buy."
• Intercontinental Exchange recently announced a quarterly dividend of $0.48, resulting in an annualized yield of 1.0% with a payout ratio of 36.85%.

Trillium Asset Management LLC boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 14.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 242,760 shares of the financial services provider's stock after acquiring an additional 31,246 shares during the period. Intercontinental Exchange accounts for 1.2% of Trillium Asset Management LLC's holdings, making the stock its 21st biggest position. Trillium Asset Management LLC's holdings in Intercontinental Exchange were worth $41,876,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Fielder Capital Group LLC increased its holdings in Intercontinental Exchange by 2.2% in the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after purchasing an additional 61 shares in the last quarter. Berkeley Capital Partners LLC increased its holdings in Intercontinental Exchange by 1.1% in the first quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after purchasing an additional 62 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in Intercontinental Exchange by 17.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock worth $74,000 after purchasing an additional 63 shares in the last quarter. Values Added Financial LLC increased its holdings in Intercontinental Exchange by 4.4% in the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock worth $264,000 after purchasing an additional 64 shares in the last quarter. Finally, MV Capital Management Inc. increased its holdings in Intercontinental Exchange by 15.7% in the first quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock worth $86,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ICE. Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Barclays increased their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a 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 company's stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

Insider Buying and Selling at Intercontinental Exchange

In other news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer directly owned 13,220 shares in the company, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president owned 27,313 shares in the company, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 443,488 shares of company stock worth $80,323,823 over the last quarter. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded down $1.56 during trading hours on Friday, reaching $181.12. 2,820,442 shares of the stock traded hands, compared to its average volume of 3,007,877. The company has a market capitalization of $103.68 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 2.15 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 Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company's 50-day simple moving average is $181.97 and its two-hundred day simple moving average is $173.23.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $1.52 EPS. Intercontinental Exchange's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

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

Intercontinental Exchange Company 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.