Banco Bilbao Vizcaya Argentaria S.A. Boosts Stock Holdings in Intercontinental Exchange Inc. $ICE

Banco Bilbao Vizcaya Argentaria S.A. increased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 14.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,525 shares of the financial services provider’s stock after acquiring an additional 4,474 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Intercontinental Exchange were worth $5,982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Intercontinental Exchange by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after purchasing an additional 745,135 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Intercontinental Exchange by 64.7% in the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after purchasing an additional 4,067,922 shares during the last quarter. Norges Bank purchased a new position in shares of Intercontinental Exchange in the second quarter worth $1,542,780,000. Capital World Investors lifted its holdings in shares of Intercontinental Exchange by 15.2% during the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after purchasing an additional 928,047 shares in the last quarter. Finally, Sands Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 6.9% during the third quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider’s stock valued at $956,506,000 after purchasing an additional 364,227 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $161.44 on Tuesday. The firm has a market capitalization of $91.68 billion, a P/E ratio of 27.98, a PEG ratio of 1.72 and a beta of 1.04. 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 Inc. has a one year low of $143.17 and a one year high of $189.35. The business has a fifty day moving average of $164.44 and a 200 day moving average of $162.00.

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, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate 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 prior year, the company earned $1.52 earnings per share. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a $0.52 dividend. 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 dividend payout ratio is 33.28%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Raymond James Financial reiterated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $194.73.

Insider Transactions at Intercontinental Exchange

In related news, insider Lynn C. Martin sold 13,456 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. This trade represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were 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 of the company’s stock, valued at $256,014,275. This trade represents a 8.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 348,418 shares of company stock worth $54,196,631. 1.00% of the stock is currently owned by corporate insiders.

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.