Banque Pictet & Cie SA Has $6.67 Million Stock Position in Intercontinental Exchange Inc. $ICE

Banque Pictet & Cie SA reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 47.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,160 shares of the financial services provider’s stock after selling 37,097 shares during the quarter. Banque Pictet & Cie SA’s holdings in Intercontinental Exchange were worth $6,666,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Knuff & Co LLC raised its position in shares of 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 buying an additional 74 shares during the last quarter. Holos Integrated Wealth LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Private Wealth Management Group LLC grew its position in Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after buying an additional 66 shares in the last quarter. Caitlin John LLC acquired a new stake in Intercontinental Exchange during the third quarter worth about $32,000. Finally, Capital A Wealth Management LLC increased its stake in Intercontinental Exchange by 26,000.0% during the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 260 shares during the period. 89.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on ICE shares. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Morgan Stanley set a $183.00 price objective on Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Piper Sandler restated an “overweight” rating and issued a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $191.20.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00. Following the completion of the transaction, the chief financial officer directly owned 27,679 shares in the company, valued at $4,262,566. This represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 3,865 shares of Intercontinental Exchange stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the transaction, the president directly owned 165,304 shares of the company’s stock, valued at approximately $25,412,183.92. The trade was a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 348,418 shares of company stock valued at $54,196,631. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Up 3.1%

Shares of ICE opened at $163.02 on Friday. The stock has a market cap of $92.34 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 1.71 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The company has a 50-day moving average price of $161.39 and a two-hundred day moving average price of $160.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the company posted $1.52 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 36.05%.

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.