Crescent Grove Advisors LLC Purchases New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Crescent Grove Advisors LLC purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 152,500 shares of the financial services provider's stock, valued at approximately $19,586,000. Intercontinental Exchange comprises about 2.1% of Crescent Grove Advisors LLC's investment portfolio, making the stock its 11th largest position.

Several other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of Intercontinental Exchange by 27.3% in the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider's stock worth $7,311,000 after acquiring an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Intercontinental Exchange by 7.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider's stock worth $13,956,000 after buying an additional 8,320 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Intercontinental Exchange by 9.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider's stock worth $158,738,000 after buying an additional 105,042 shares during the period. First County Bank CT grew its position in shares of Intercontinental Exchange by 2.7% during the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider's stock worth $419,000 after buying an additional 100 shares during the period. Finally, CIC Wealth LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $221,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Down 2.2 %

ICE traded down $2.97 during trading hours on Monday, hitting $130.58. 2,264,770 shares of the company's stock were exchanged, compared to its average volume of 2,402,087. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The stock's 50-day moving average is $136.22 and its two-hundred day moving average is $123.89. The stock has a market cap of $74.77 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 2.11 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The firm's revenue was up 24.5% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. This is a boost from Intercontinental Exchange's previous quarterly dividend of $0.42. Intercontinental Exchange's dividend payout ratio (DPR) is currently 42.86%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group lifted their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, February 12th. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 9th. Rosenblatt Securities boosted their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a "buy" rating in a report on Friday, February 9th. JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an "overweight" rating in a report on Friday, February 9th. Finally, Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an "overweight" rating in a report on Monday, February 12th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.08.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 27,970 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the sale, the president now owns 138,487 shares in the company, valued at $18,659,738.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Warren Gardiner sold 500 shares of the firm's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the sale, the chief financial officer now owns 18,326 shares in the company, valued at approximately $2,544,198.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Benjamin Jackson sold 27,970 shares of the firm's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the sale, the president now owns 138,487 shares of the company's stock, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Insiders sold a total of 157,491 shares of company stock worth $21,454,204 over the last quarter. 1.10% of the stock is currently owned by insiders.

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.

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