US Bancorp DE Decreases Stake in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• US Bancorp DE has reduced its stake in Intercontinental Exchange (ICE) by 22.5%, selling 35,965 shares and now holding 124,036 shares valued at approximately $21.4 million.
• Institutional investors currently own 89.30% of Intercontinental Exchange's stock, with firms like Brighton Jones LLC and Prudential PLC increasing their holdings in the company.
• Intercontinental Exchange has announced a quarterly dividend of $0.48 per share, representing an annualized yield of 1.0% and a payout ratio of 39.75%.

US Bancorp DE lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 22.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,036 shares of the financial services provider's stock after selling 35,965 shares during the period. US Bancorp DE's holdings in Intercontinental Exchange were worth $21,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. REAP Financial Group LLC lifted its position in shares of 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 acquiring an additional 91 shares in the last quarter. Tsfg LLC boosted its position in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after buying an additional 103 shares during the period. Menard Financial Group LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $29,000. Rakuten Securities Inc. boosted its holdings in shares of 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 purchasing an additional 143 shares during the period. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the first quarter worth about $31,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Down 0.5%

ICE stock traded down $0.94 during mid-day trading on Tuesday, reaching $187.51. The company had a trading volume of 2,929,434 shares, compared to its average volume of 2,429,540. The firm has a 50 day moving average of $180.95 and a 200 day moving average of $171.80. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.23. The company has a market capitalization of $107.33 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.23 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 posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Intercontinental Exchange's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 1.0%. Intercontinental Exchange's payout ratio is currently 36.85%.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Barclays lifted their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday. Morgan Stanley lifted 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 note on Monday, May 5th. Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were 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 approximately $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 794 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $185.00, for a total transaction of $146,890.00. Following the sale, the director owned 14,206 shares in the company, valued at approximately $2,628,110. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,913 shares of company stock valued at $40,671,107. 1.00% of the stock is owned by corporate insiders.

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.