Bank Pictet & Cie Europe AG Sells 7,577 Shares of Intercontinental Exchange Inc. $ICE

Bank Pictet & Cie Europe AG reduced its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,962 shares of the financial services provider’s stock after selling 7,577 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Intercontinental Exchange were worth $5,824,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ICE. Holos Integrated Wealth LLC bought a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $28,000. Private Wealth Management Group LLC grew its holdings in 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 valued at $30,000 after buying an additional 66 shares during the last quarter. Knuff & Co LLC increased its position in Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after buying an additional 74 shares during the period. Caitlin John LLC bought a new position in Intercontinental Exchange in the 3rd quarter worth approximately $32,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Intercontinental Exchange by 128.6% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $46,000 after buying an additional 153 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other news, insider Lynn C. Martin sold 13,456 shares of Intercontinental Exchange stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the sale, the insider directly owned 54,319 shares in the company, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $256,014,275. The trade was a 8.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 348,418 shares of company stock worth $54,196,631 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $158.24 on Thursday. The firm has a market capitalization of $89.86 billion, a PE ratio of 27.42, a PEG ratio of 1.70 and a beta of 1.03. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The business’s 50 day moving average is $161.62 and its 200-day moving average is $160.61.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The business 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 period in the prior year, the company posted $1.52 earnings per share. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share 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. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is currently 36.05%.

Analyst Ratings Changes

ICE has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Raymond James Financial reissued a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus price target of $191.20.

Intercontinental Exchange Profile

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.