AIA Group Ltd Invests $3.65 Million in Intercontinental Exchange Inc. $ICE

AIA Group Ltd bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,688 shares of the financial services provider’s stock, valued at approximately $3,654,000.

A number of other institutional investors have also recently bought and sold shares of ICE. Knuff & Co LLC grew its position in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Private Wealth Management Group LLC raised its holdings in shares of Intercontinental Exchange by 59.5% in 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 during the period. Caitlin John LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter worth about $32,000. Capital A Wealth Management LLC lifted its stake in shares of Intercontinental Exchange by 26,000.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 260 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Intercontinental Exchange by 128.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 153 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the sale, the general counsel owned 48,181 shares of the company’s stock, valued at $7,805,322. The trade was a 8.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 348,418 shares of company stock worth $54,196,631 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $158.37 on Friday. The business’s 50-day simple moving average is $164.16 and its 200 day simple moving average is $161.83. The company has a market cap of $89.94 billion, a P/E ratio of 27.45, a PEG ratio of 1.70 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates 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%.Intercontinental Exchange’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. 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 dividend payout ratio (DPR) is presently 36.05%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ICE. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research note on Friday, March 6th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus 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.