Commonwealth Equity Services LLC lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,629 shares of the financial services provider’s stock after selling 6,383 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Intercontinental Exchange were worth $3,715,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of ICE. RB Capital Management LLC lifted its position in shares of Intercontinental Exchange by 3.2% in the 1st quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after buying an additional 126 shares during the last quarter. United Bank boosted its stake in Intercontinental Exchange by 2.7% in the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock valued at $2,112,000 after acquiring an additional 422 shares during the period. U.S. Capital Wealth Advisors LLC boosted its stake in Intercontinental Exchange by 13.5% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 220 shares during the period. Sei Investments Co. grew its holdings in shares of Intercontinental Exchange by 31.5% during the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock valued at $27,077,000 after purchasing an additional 49,081 shares during the last quarter. Finally, Prudential PLC acquired a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $1,679,000. Institutional investors own 87.91% of the company’s stock.
Analyst Upgrades and Downgrades
ICE has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on Intercontinental Exchange from $125.00 to $135.00 in a research report on Wednesday, July 5th. StockNews.com started coverage on shares of Intercontinental Exchange in a research report on Thursday, August 17th. They set a “hold” rating for the company. Raymond James increased their price objective on shares of Intercontinental Exchange from $130.00 to $133.00 and gave the stock a “strong-buy” rating in a report on Friday, August 4th. Rosenblatt Securities reissued a “buy” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Friday, August 4th. Finally, Citigroup upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $117.00 to $130.00 in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $132.60.
Intercontinental Exchange Trading Down 0.8 %
Shares of Intercontinental Exchange stock opened at $117.01 on Monday. The business has a fifty day simple moving average of $114.70 and a 200-day simple moving average of $108.81. Intercontinental Exchange, Inc. has a fifty-two week low of $88.60 and a fifty-two week high of $118.79. The firm has a market cap of $65.56 billion, a price-to-earnings ratio of 38.87, a price-to-earnings-growth ratio of 2.37 and a beta of 0.93. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.76.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. Intercontinental Exchange’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.32 EPS. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 5.65 EPS for the current fiscal year.
Intercontinental Exchange Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.44%. Intercontinental Exchange’s dividend payout ratio is currently 55.81%.
Insider Buying and Selling at Intercontinental Exchange
In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $113.99, for a total value of $182,384.00. Following the transaction, the senior vice president now directly owns 18,402 shares in the company, valued at approximately $2,097,643.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intercontinental Exchange news, President Benjamin Jackson sold 2,000 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $108.50, for a total transaction of $217,000.00. Following the transaction, the president now directly owns 125,526 shares in the company, valued at approximately $13,619,571. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $113.99, for a total value of $182,384.00. Following the completion of the sale, the senior vice president now owns 18,402 shares of the company’s stock, valued at approximately $2,097,643.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,136 shares of company stock valued at $1,034,539. Corporate insiders own 1.10% 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.
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