Intercontinental Exchange Inc. $ICE Stake Boosted by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Intercontinental Exchange Inc. by 60.8% during the first quarter, now owning 12,896 shares valued at approximately $2.23 million.
• Several institutional investors, including Royal Bank of Canada and Kovitz Investment Group Partners LLC, also significantly boosted their positions in Intercontinental Exchange, reflecting strong institutional interest in the company.
• Intercontinental Exchange announced a quarterly dividend of $0.48 per share, translating to an annualized yield of 1.1%, with a dividend payout ratio of 36.85%.

Vestmark Advisory Solutions Inc. lifted its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 60.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,896 shares of the financial services provider's stock after buying an additional 4,876 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Intercontinental Exchange were worth $2,225,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC lifted its position in Intercontinental Exchange by 423.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after acquiring an additional 3,678,384 shares during the period. Nuveen LLC acquired a new stake in Intercontinental Exchange during the 1st quarter worth approximately $575,383,000. GAMMA Investing LLC lifted its position in Intercontinental Exchange by 24,394.4% during the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after acquiring an additional 2,255,507 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Intercontinental Exchange by 50.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after buying an additional 1,993,084 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Barclays raised their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods raised their price target 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 raised their price target 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. Finally, UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Insiders Place Their Bets

In related news, Director Sharon Bowen sold 795 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total value of $145,723.50. Following the transaction, the director owned 15,000 shares in the company, valued at approximately $2,749,500. The trade was a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 443,488 shares of company stock valued at $80,323,823. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Up 0.1%

Intercontinental Exchange stock traded up $0.0980 during midday trading on Tuesday, reaching $178.0380. The stock had a trading volume of 2,580,432 shares, compared to its average volume of 3,016,693. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The stock has a market capitalization of $101.91 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock's 50-day simple moving average is $182.07 and its 200 day simple moving average is $173.73.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.52 earnings per share. Analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

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

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.