Dakota Wealth Management Decreases Stock Position in Intercontinental Exchange Inc. $ICE

Dakota Wealth Management lessened its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 88.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,481 shares of the financial services provider’s stock after selling 35,551 shares during the period. Dakota Wealth Management’s holdings in Intercontinental Exchange were worth $755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 1.4% in the second 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 period. Geode Capital Management LLC grew its stake in Intercontinental Exchange by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock valued at $2,270,657,000 after buying an additional 145,961 shares in the last quarter. Norges Bank bought a new stake in Intercontinental Exchange during the 2nd quarter valued at $1,542,780,000. Sands Capital Management LLC raised its holdings in Intercontinental Exchange by 97.3% during the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after acquiring an additional 2,620,310 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Intercontinental Exchange by 4.1% in the second quarter. Legal & General Group Plc now owns 3,510,634 shares of the financial services provider’s stock worth $644,096,000 after acquiring an additional 137,685 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 12,861 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total value of $2,122,065.00. Following the completion of the sale, the president owned 165,692 shares of the company’s stock, valued at $27,339,180. This trade represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction on 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 transaction, the insider directly owned 14,266 shares in the company, valued at approximately $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 354,492 shares of company stock valued at $55,139,102 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ICE. UBS Group reiterated a “buy” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Monday, February 9th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Piper Sandler reissued 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. 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. Finally, TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $195.40.

Intercontinental Exchange Trading Up 1.5%

NYSE ICE opened at $162.75 on Friday. The stock has a 50-day moving average of $164.39 and a 200-day moving average of $163.72. 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 firm has a market cap of $92.43 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 1.67 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly 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 company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Intercontinental Exchange’s payout ratio is 33.28%.

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.