Lipe & Dalton Buys 100 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Lipe & Dalton grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,560 shares of the financial services provider’s stock after purchasing an additional 100 shares during the quarter. Lipe & Dalton’s holdings in Intercontinental Exchange were worth $457,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. OFI Invest Asset Management acquired a new stake in Intercontinental Exchange during the third quarter worth about $25,000. Jones Financial Companies Lllp acquired a new stake in Intercontinental Exchange during the third quarter worth about $26,000. Fortitude Family Office LLC acquired a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. BKM Wealth Management LLC acquired a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $31,000. Finally, First Capital Advisors Group LLC. acquired a new stake in Intercontinental Exchange during the second quarter valued at approximately $35,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded down $0.66 during trading hours on Tuesday, hitting $129.89. 2,637,591 shares of the stock were exchanged, compared to its average volume of 2,405,310. The company has a market cap of $74.37 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The company’s fifty day simple moving average is $136.30 and its two-hundred day simple moving average is $124.03. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.45 per share. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

Insider Activity

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the sale, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the completion of the transaction, the chief financial officer now directly owns 12,061 shares in the company, valued at approximately $1,640,296. The disclosure for this sale can be found here. Insiders sold 157,491 shares of company stock worth $21,454,204 over the last three months. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research analyst reports. Raymond James lifted their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, January 5th. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Rosenblatt Securities boosted their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Citigroup upped their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.08.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.