Capital International Inc. CA Increases Stock Position in Intercontinental Exchange Inc. $ICE

Capital International Inc. CA increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 33.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,959 shares of the financial services provider’s stock after buying an additional 7,256 shares during the period. Capital International Inc. CA’s holdings in Intercontinental Exchange were worth $4,879,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Capital Group Investment Management PTE. LTD. lifted its position in shares of Intercontinental Exchange by 35.1% during the third quarter. Capital Group Investment Management PTE. LTD. now owns 2,076 shares of the financial services provider’s stock worth $350,000 after acquiring an additional 539 shares in the last quarter. Bank of Montreal Can grew its position in shares of Intercontinental Exchange by 9.0% in the third quarter. Bank of Montreal Can now owns 953,123 shares of the financial services provider’s stock valued at $160,582,000 after purchasing an additional 78,440 shares in the last quarter. Legal & General Group Plc grew its position in shares of Intercontinental Exchange by 3.1% in the third quarter. Legal & General Group Plc now owns 3,618,196 shares of the financial services provider’s stock valued at $609,594,000 after purchasing an additional 107,562 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Intercontinental Exchange by 1.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 23,637 shares of the financial services provider’s stock valued at $3,982,000 after purchasing an additional 301 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in Intercontinental Exchange during the 3rd quarter worth about $750,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $156.96 on Thursday. The stock has a market cap of $89.13 billion, a P/E ratio of 27.20, a PEG ratio of 1.73 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $164.61 and its two-hundred day moving average price is $162.50. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35.

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

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 36.05%.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 12,861 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total value of $2,122,065.00. Following the completion of the transaction, the president directly owned 165,692 shares in the company, valued at approximately $27,339,180. The trade was a 7.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the transaction, the insider directly owned 54,319 shares in the company, valued at approximately $8,357,521.34. This represents a 19.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 350,018 shares of company stock worth $54,457,751. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays set a $193.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, February 6th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. 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. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $194.73.

About Intercontinental Exchange

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.