Allspring Global Investments Holdings LLC Sells 14,339 Shares of Intercontinental Exchange Inc. $ICE

Allspring Global Investments Holdings LLC lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 950,586 shares of the financial services provider’s stock after selling 14,339 shares during the period. Allspring Global Investments Holdings LLC owned 0.17% of Intercontinental Exchange worth $152,084,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brookstone Capital Management raised its stake in Intercontinental Exchange by 305.6% during the 4th quarter. Brookstone Capital Management now owns 5,111 shares of the financial services provider’s stock worth $828,000 after buying an additional 3,851 shares during the period. J. Safra Sarasin Holding AG increased its holdings in shares of Intercontinental Exchange by 46.9% during the fourth quarter. J. Safra Sarasin Holding AG now owns 2,116 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 676 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Intercontinental Exchange by 3.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 223,638 shares of the financial services provider’s stock worth $36,220,000 after purchasing an additional 6,438 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter worth $160,000. Finally, Congress Park Capital LLC grew its position in Intercontinental Exchange by 73.4% in the 4th quarter. Congress Park Capital LLC now owns 3,325 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 1,408 shares during the period. 89.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ICE has been the topic of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. UBS Group reiterated a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Monday, February 9th. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report 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 research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Buy” and a consensus target price of $194.73.

Intercontinental Exchange Price Performance

ICE opened at $156.90 on Tuesday. The firm’s fifty day moving average price is $162.17 and its two-hundred day moving average price is $160.75. The company has a market capitalization of $89.10 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 1.65 and a beta of 1.04. 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 Inc. has a 1 year low of $143.17 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders 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 annualized dividend and a yield of 1.3%. Intercontinental Exchange’s payout ratio is currently 36.05%.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 15,213 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the completion of the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,055,992.38. This trade represents a 19.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the sale, the insider owned 14,266 shares in the company, valued at $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 348,418 shares of company stock worth $54,196,631. Company insiders own 1.00% of the company’s stock.

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.