Clear Trail Advisors LLC Makes New $582,000 Investment in Intercontinental Exchange Inc. $ICE

Clear Trail Advisors LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,594 shares of the financial services provider’s stock, valued at approximately $582,000.

A number of other hedge funds have also made changes to their positions in the company. State Street Corp boosted its position in Intercontinental Exchange by 0.8% in the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after buying an additional 194,325 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 64.7% during 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 buying an additional 4,067,922 shares in the last quarter. Norges Bank bought a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $1,542,780,000. Capital World Investors raised its stake in shares of Intercontinental Exchange by 15.2% in 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 acquiring an additional 928,047 shares during the last quarter. Finally, Sands Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 6.9% in the 3rd quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider’s stock worth $956,506,000 after acquiring an additional 364,227 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.8%

Shares of ICE opened at $157.10 on Tuesday. The business’s fifty day moving average price is $163.83 and its two-hundred day moving average price is $161.39. The firm has a market capitalization of $89.22 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.71 and a beta of 1.03. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. 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 (NYSE:ICE) last released its 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. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders 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 1.3%. Intercontinental Exchange’s dividend payout ratio is presently 36.05%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ICE. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a report on Friday, March 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Piper Sandler reaffirmed 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. Finally, UBS Group reissued a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Monday, February 9th. One equities research 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, Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $194.73.

Insider Activity at Intercontinental Exchange

In related news, 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 completion of the sale, the chief executive officer directly owned 1,651,705 shares of the company’s stock, valued at $256,014,275. The trade was a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Mayur Kapani sold 15,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,055,992.38. The trade was a 19.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 348,418 shares of company stock worth $54,196,631. Insiders own 1.00% of the company’s stock.

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.