XTX Topco Ltd Purchases 20,510 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• XTX Topco Ltd increased its stake in Intercontinental Exchange by 77.6%, owning 46,926 shares valued at approximately $8.10 million, making it the fund's 11th largest holding.
• Multiple institutional investors have recently increased their stakes in Intercontinental Exchange, with Governors Lane LP boosting its ownership by 88.0%, acquiring 59,500 additional shares.
• Analyst ratings for Intercontinental Exchange show a consensus of "Moderate Buy" and an average price target of $194.42, with several firms adjusting their price targets upwards.

XTX Topco Ltd boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 77.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,926 shares of the financial services provider's stock after purchasing an additional 20,510 shares during the period. Intercontinental Exchange comprises 0.4% of XTX Topco Ltd's portfolio, making the stock its 11th largest holding. XTX Topco Ltd's holdings in Intercontinental Exchange were worth $8,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Intercontinental Exchange by 423.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after purchasing an additional 3,678,384 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Intercontinental Exchange by 24,394.4% in the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after purchasing an additional 2,255,507 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Intercontinental Exchange by 50.6% in the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after purchasing an additional 1,993,084 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Intercontinental Exchange by 26.6% in the fourth quarter. Janus Henderson Group PLC now owns 5,721,604 shares of the financial services provider's stock worth $852,578,000 after purchasing an additional 1,200,965 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

ICE has been the subject of a number of analyst reports. Bank of America reduced their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods raised their target price on shares of 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 raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley raised 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. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.42.

Intercontinental Exchange Price Performance

ICE stock traded up $1.47 during trading on Wednesday, hitting $186.18. 3,506,659 shares of the company's stock traded hands, compared to its average volume of 1,871,467. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $187.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The business has a fifty day simple moving average of $180.33 and a 200 day simple moving average of $170.66. The stock has a market capitalization of $106.80 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 2.02 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business earned $1.48 earnings per share. Intercontinental Exchange's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.03%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the sale, the chief executive officer owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares of the company's stock, valued at $8,683,737.60. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,913 shares of company stock valued at $40,671,107 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

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.