Alliancebernstein L.P. Has $223.35 Million Position in Intercontinental Exchange Inc. $ICE

Alliancebernstein L.P. lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 17.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,325,679 shares of the financial services provider’s stock after selling 280,912 shares during the period. Alliancebernstein L.P. owned 0.23% of Intercontinental Exchange worth $223,350,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Private Wealth Management Group LLC boosted its holdings 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 during the last quarter. Knuff & Co LLC boosted its stake in Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Caitlin John LLC acquired a new position in Intercontinental Exchange during the third quarter valued at approximately $32,000. Cornerstone Planning Group LLC grew its holdings in Intercontinental Exchange by 128.6% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 153 shares during the period. Finally, Capital A Wealth Management LLC increased its stake in Intercontinental Exchange by 26,000.0% in the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00. Following the sale, the chief financial officer owned 27,679 shares in the company, valued at approximately $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 is accessible through this hyperlink. Also, insider Lynn C. Martin sold 13,456 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the transaction, the insider directly owned 54,319 shares in the company, valued at $8,357,521.34. This trade represents a 19.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 348,418 shares of company stock valued at $54,196,631 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on ICE shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Piper Sandler restated 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. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, UBS Group reissued a “buy” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $194.73.

Intercontinental Exchange Stock Up 0.3%

NYSE:ICE opened at $159.12 on Monday. The stock has a 50-day simple moving average of $164.52 and a 200 day simple moving average of $162.11. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The company has a market cap of $90.36 billion, a PE ratio of 27.58, a PEG ratio of 1.72 and a beta of 1.04. 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 EPS 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 firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the business posted $1.52 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given 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 payout ratio is currently 33.28%.

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.