Aquatic Capital Management LLC Sells 13,465 Shares of Intercontinental Exchange Inc. $ICE

Aquatic Capital Management LLC lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 22.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,079 shares of the financial services provider’s stock after selling 13,465 shares during the quarter. Aquatic Capital Management LLC’s holdings in Intercontinental Exchange were worth $7,932,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Private Wealth Management Group LLC lifted its position in shares of Intercontinental Exchange by 59.5% in the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Knuff & Co LLC boosted its holdings in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Caitlin John LLC bought a new position in Intercontinental Exchange in the third quarter valued at $32,000. Cornerstone Planning Group LLC increased its stake in Intercontinental Exchange by 128.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after buying an additional 153 shares during the last quarter. Finally, Capital A Wealth Management LLC increased its stake in Intercontinental Exchange by 26,000.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after buying an additional 260 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Friday, March 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus target price of $194.73.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the sale, the general counsel owned 48,181 shares in the company, valued at approximately $7,805,322. This represents a 8.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total value of $383,460.00. Following the sale, the chief financial officer directly owned 27,679 shares of the company’s stock, valued at $4,262,566. This represents a 8.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 348,418 shares of company stock valued at $54,196,631. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Up 0.3%

Intercontinental Exchange stock opened at $159.12 on Monday. The firm has a market capitalization of $90.36 billion, a PE ratio of 27.58, a P/E/G ratio of 1.72 and a beta of 1.04. The company’s 50-day moving average is $164.52 and its 200-day moving average is $162.11. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the business posted $1.52 EPS. Intercontinental Exchange’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

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 given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 33.28%.

About Intercontinental Exchange

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.