Wellington Management Group LLP Raises Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Wellington Management Group increased its stake in Intercontinental Exchange (ICE) by 113.9% in the first quarter, owning approximately 1.04% of the company with shares valued at over $1 billion.
• ICE reported earnings of $1.81 per share, exceeding estimates, with revenue of $3.26 billion for the quarter, marking a 9.8% increase year-over-year.
• Intercontinental Exchange announced a quarterly dividend of $0.48 per share, resulting in an annualized yield of 1.1% based on a payout ratio of 36.85%.

Wellington Management Group LLP raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 113.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,943,363 shares of the financial services provider's stock after buying an additional 3,165,381 shares during the quarter. Wellington Management Group LLP owned about 1.04% of Intercontinental Exchange worth $1,025,230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Korea Investment CORP raised its position in shares of Intercontinental Exchange by 3.7% in the 1st quarter. Korea Investment CORP now owns 429,311 shares of the financial services provider's stock worth $74,056,000 after purchasing an additional 15,196 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in Intercontinental Exchange by 10.0% in the 1st quarter. Aptus Capital Advisors LLC now owns 95,471 shares of the financial services provider's stock worth $16,469,000 after buying an additional 8,716 shares in the last quarter. Aviso Financial Inc. increased its holdings in Intercontinental Exchange by 5.5% in the 1st quarter. Aviso Financial Inc. now owns 50,122 shares of the financial services provider's stock worth $8,646,000 after buying an additional 2,631 shares in the last quarter. Brooklyn Investment Group increased its holdings in Intercontinental Exchange by 65.6% in the 1st quarter. Brooklyn Investment Group now owns 5,283 shares of the financial services provider's stock worth $911,000 after buying an additional 2,093 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC increased its holdings in Intercontinental Exchange by 32.2% in the 1st quarter. Mill Creek Capital Advisors LLC now owns 1,846 shares of the financial services provider's stock worth $318,000 after buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, CAO James W. Namkung sold 612 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer owned 13,220 shares in the company, valued at approximately $2,379,600. This represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel owned 48,480 shares in the company, valued at $8,683,737.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 442,936 shares of company stock worth $80,227,488. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $2.0560 during mid-day trading on Thursday, reaching $179.2440. 1,973,631 shares of the company traded hands, compared to its average volume of 3,009,574. The company's 50 day moving average price is $182.19 and its 200-day moving average price is $173.81. The firm has a market cap of $102.60 billion, a PE ratio of 34.40, a PEG ratio of 2.13 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 Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the company posted $1.52 EPS. The firm's revenue was up 9.8% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.1%. Intercontinental Exchange's dividend payout ratio (DPR) is 36.85%.

Analyst Ratings Changes

Several research firms recently commented on ICE. Barclays lifted 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. Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Piper Sandler boosted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley boosted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Finally, UBS Group boosted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $194.92.

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.