New Age Alpha Advisors LLC Cuts Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

New Age Alpha Advisors LLC decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 97.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200 shares of the financial services provider’s stock after selling 9,032 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Intercontinental Exchange were worth $34,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ICE. REAP Financial Group LLC grew its holdings in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Tsfg LLC grew its holdings in shares of Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 103 shares in the last quarter. Menard Financial Group LLC bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. lifted its position in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 143 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in Intercontinental Exchange in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, CAO James W. Namkung sold 612 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 13,220 shares of the company’s stock, valued at approximately $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business’s stock in a transaction that occurred 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 transaction, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 226,913 shares of company stock valued at $40,671,107. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

ICE has been the subject of a number of recent research reports. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Barclays boosted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. UBS Group boosted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their target price 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, Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.92.

Intercontinental Exchange Price Performance

ICE opened at $185.98 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The stock has a market capitalization of $106.46 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.21 and a beta of 1.11. The stock’s 50 day moving average price is $181.78 and its 200-day moving average price is $172.96.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.0%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 36.85%.

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.