Intercontinental Exchange, Inc. (NYSE:ICE) Position Boosted by Ninety One SA PTY Ltd

Ninety One SA PTY Ltd boosted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 32.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,911 shares of the financial services provider’s stock after acquiring an additional 19,755 shares during the quarter. Intercontinental Exchange accounts for 1.6% of Ninety One SA PTY Ltd’s portfolio, making the stock its 22nd largest position. Ninety One SA PTY Ltd’s holdings in Intercontinental Exchange were worth $10,391,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Cambridge Trust Co. increased its position in Intercontinental Exchange by 1.0% in the 4th quarter. Cambridge Trust Co. now owns 136,898 shares of the financial services provider’s stock valued at $17,582,000 after acquiring an additional 1,370 shares during the period. Ninety One UK Ltd increased its position in Intercontinental Exchange by 10.6% in the 4th quarter. Ninety One UK Ltd now owns 2,901,068 shares of the financial services provider’s stock valued at $372,584,000 after acquiring an additional 278,265 shares during the period. Waterfront Wealth Inc. increased its position in Intercontinental Exchange by 2.2% in the 4th quarter. Waterfront Wealth Inc. now owns 9,084 shares of the financial services provider’s stock valued at $1,167,000 after acquiring an additional 196 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in Intercontinental Exchange by 81.9% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,257 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 566 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Intercontinental Exchange by 3.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 82,272 shares of the financial services provider’s stock valued at $10,566,000 after acquiring an additional 2,373 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, President Benjamin Jackson sold 27,970 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the transaction, the president now directly owns 138,487 shares in the company, valued at $18,659,738.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the transaction, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,491 shares of company stock worth $21,454,204. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.2 %

Shares of Intercontinental Exchange stock traded up $0.22 during midday trading on Thursday, hitting $130.96. The company’s stock had a trading volume of 1,071,299 shares, compared to its average volume of 2,386,148. The firm has a market capitalization of $74.99 billion, a P/E ratio of 31.07, a PEG ratio of 2.06 and a beta of 1.02. The stock has a 50-day simple moving average of $136.42 and a 200-day simple moving average of $124.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43.

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

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Piper Sandler increased their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Raymond James increased their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, January 5th. Morgan Stanley increased their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $152.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, April 4th. 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.08.

Intercontinental Exchange Company Profile

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.