Intercontinental Exchange Inc. $ICE Shares Sold by BNP Paribas

BNP Paribas reduced its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 90.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,688 shares of the financial services provider’s stock after selling 55,119 shares during the period. BNP Paribas’ holdings in Intercontinental Exchange were worth $958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. ICONIQ Capital LLC grew its stake in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 56 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Intercontinental Exchange by 5.0% in the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 58 shares during the period. Cascade Investment Advisors Inc. boosted its holdings in Intercontinental Exchange by 0.5% in the third quarter. Cascade Investment Advisors Inc. now owns 13,766 shares of the financial services provider’s stock valued at $2,319,000 after purchasing an additional 65 shares during the period. Private Wealth Management Group LLC grew its stake in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. grew its stake in Intercontinental Exchange by 3.2% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 2,248 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total value of $383,460.00. Following the completion of the transaction, the chief financial officer owned 27,679 shares in the company, valued at approximately $4,262,566. This represents a 8.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the transaction, the insider directly owned 14,266 shares in the company, valued at $2,194,396.12. This trade represents a 44.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 348,418 shares of company stock worth $54,196,631. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 0.3%

ICE opened at $159.12 on Monday. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a market cap of $90.36 billion, a P/E ratio of 27.58, a PEG ratio of 1.72 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day simple moving average is $164.52 and its 200-day simple moving average is $162.11.

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

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 33.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ICE shares. Barclays set a $193.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. Raymond James Financial restated a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently 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.