79,871 Shares in Intercontinental Exchange Inc. $ICE Purchased by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 79,871 shares of the financial services provider’s stock, valued at approximately $13,457,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $1,542,780,000. Wellington Management Group LLP boosted its position in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after buying an additional 4,067,922 shares during the period. Sands Capital Management LLC grew its stake in shares of Intercontinental Exchange by 97.3% in the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. Mawer Investment Management Ltd. increased its position in shares of Intercontinental Exchange by 179.1% during the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock worth $416,544,000 after acquiring an additional 1,586,620 shares during the period. Finally, Waverton Investment Management Ltd raised its position in Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after purchasing an additional 1,521,467 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ICE. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. UBS Group reissued a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Finally, Barclays set a $193.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $194.73.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the sale, the insider owned 54,319 shares in the company, valued at approximately $8,357,521.34. This represents a 19.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 3,865 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.73, for a total value of $594,166.45. Following the sale, the president owned 165,304 shares of the company’s stock, valued at approximately $25,412,183.92. This represents a 2.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 348,418 shares of company stock valued at $54,196,631 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $158.37 on Friday. The stock has a market capitalization of $89.94 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.70 and a beta of 1.03. The business’s 50 day moving average is $164.16 and its two-hundred day moving average is $161.83. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. 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 posted its quarterly 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. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $1.52 EPS. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

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

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.