2Xideas AG Has $44.54 Million Position in Intercontinental Exchange Inc. $ICE

2Xideas AG trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 6.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 264,349 shares of the financial services provider’s stock after selling 17,838 shares during the quarter. Intercontinental Exchange accounts for about 9.4% of 2Xideas AG’s holdings, making the stock its biggest holding. 2Xideas AG’s holdings in Intercontinental Exchange were worth $44,538,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ICE. ICONIQ Capital LLC lifted its stake in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 56 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of Intercontinental Exchange by 5.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 58 shares during the period. Cascade Investment Advisors Inc. lifted its position in shares of Intercontinental Exchange by 0.5% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 13,766 shares of the financial services provider’s stock worth $2,319,000 after purchasing an additional 65 shares during the period. Private Wealth Management Group LLC boosted its stake in shares of Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its position in shares of Intercontinental Exchange by 3.2% during the third quarter. Ipswich Investment Management Co. Inc. now owns 2,248 shares of the financial services provider’s stock valued at $379,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 12,861 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were 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 in the company, valued at approximately $27,339,180. This trade represents a 7.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the chief executive officer owned 1,651,705 shares in the company, valued at $256,014,275. The trade was a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 348,418 shares of company stock valued at $54,196,631 in the last quarter. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Up 0.3%

Intercontinental Exchange stock opened at $159.12 on Friday. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The firm has a market capitalization of $90.36 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.71 and a beta of 1.03. The firm has a 50 day moving average of $164.52 and a 200 day moving average of $162.33. 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 (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 earnings per share. As a group, research 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 declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a $0.52 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 33.28%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a report on Friday, March 6th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Piper Sandler reiterated an “overweight” rating and set a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $194.73.

Intercontinental Exchange Company 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.