Dover Advisors LLC Purchases New Shares in Intercontinental Exchange Inc. $ICE

Dover Advisors LLC purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,212 shares of the financial services provider’s stock, valued at approximately $710,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 1.4% in the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after buying an additional 745,135 shares in the last quarter. Geode Capital Management LLC increased its stake in Intercontinental Exchange by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after acquiring an additional 145,961 shares during the period. Norges Bank bought a new position in Intercontinental Exchange during the 2nd quarter worth $1,542,780,000. Sands Capital Management LLC raised its holdings in Intercontinental Exchange by 97.3% in the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Intercontinental Exchange by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,510,634 shares of the financial services provider’s stock valued at $644,096,000 after acquiring an additional 137,685 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $154.00 on Friday. The company has a 50 day simple moving average of $164.58 and a 200 day simple moving average of $164.38. The stock has a market cap of $87.45 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 1.60 and a beta of 1.02. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.52 earnings per share. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.4%. Intercontinental Exchange’s payout ratio is currently 33.28%.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 11,303 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the transaction, the insider owned 14,266 shares of the company’s stock, valued at $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the sale, the chief executive officer owned 1,651,705 shares in the company, valued at approximately $256,014,275. This represents a 8.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 341,036 shares of company stock worth $53,068,762. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. UBS Group reissued a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Finally, Morgan Stanley set a $183.00 price objective on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $195.40.

Key Stories Impacting Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Kraken integration — Kraken has integrated with ICE Chat to expand institutional OTC crypto access, which advances ICE’s push into crypto infrastructure and could boost trading/data volumes over time. Kraken Integrates with ICE Chat
• Positive Sentiment: Fundamentals & analyst support — ICE recently reported an EPS beat and revenue above expectations, continues to pay a quarterly dividend, and retains a mostly positive analyst consensus/price targets, providing fundamental support under the stock. MarketBeat Coverage
• Neutral Sentiment: Pune office lease — ICE’s India arm leased space for a global capability center in Pune (commercial real estate move that supports operations expansion but is not material to near-term earnings). ICE leases Pune GCC space
• Neutral Sentiment: Small institutional flows — Recent filings show many small, new institutional stakes; institutional ownership remains high (~89%), but recent buys/sells cited are immaterial at scale. Institutional activity
• Negative Sentiment: Large CEO selling — CEO Jeffrey C. Sprecher sold significant blocks of shares (reported filings show ~150,000 and ~129,937-share dispositions around Feb 18). Large CEO sales are the most likely proximate cause of today’s negative sentiment. CEO SEC filing
• Negative Sentiment: CTO sale — CTO Mayur Kapani sold 15,213 shares (~$2.36M) on Feb 18, a ~19% reduction in his holding. CTO SEC filing
• Negative Sentiment: Other executive selling — Additional insider sales reported: President Benjamin Jackson (3,865 sh), CFO Warren Gardiner (2,490 sh), and insider Christopher Scott Edmonds (11,303 sh). These clustered sales amplify negative investor perception even though executives retain sizable holdings. President SEC filing CFO SEC filing Insider Edmonds SEC filing

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.