Altshuler Shaham Ltd Buys New Shares in Intercontinental Exchange, Inc. (NYSE:ICE)

Altshuler Shaham Ltd bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 225 shares of the financial services provider’s stock, valued at approximately $29,000.

A number of other institutional investors also recently modified their holdings of the stock. UNIVEST FINANCIAL Corp lifted its position in shares of Intercontinental Exchange by 4.2% during the 4th quarter. UNIVEST FINANCIAL Corp now owns 2,230 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 90 shares during the period. Vinva Investment Management Ltd raised its holdings in Intercontinental Exchange by 0.6% during the third quarter. Vinva Investment Management Ltd now owns 16,736 shares of the financial services provider’s stock worth $1,855,000 after buying an additional 93 shares during the last quarter. Timber Creek Capital Management LLC raised its holdings in Intercontinental Exchange by 0.3% during the fourth quarter. Timber Creek Capital Management LLC now owns 34,466 shares of the financial services provider’s stock worth $4,426,000 after buying an additional 94 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in Intercontinental Exchange by 4.8% during the third quarter. HBK Sorce Advisory LLC now owns 2,116 shares of the financial services provider’s stock worth $233,000 after buying an additional 97 shares during the last quarter. Finally, West Coast Financial LLC raised its holdings in Intercontinental Exchange by 4.6% during the fourth quarter. West Coast Financial LLC now owns 2,248 shares of the financial services provider’s stock worth $289,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE traded down $0.33 during trading on Wednesday, hitting $133.39. 1,397,428 shares of the company traded hands, compared to its average volume of 2,406,588. The firm has a market cap of $76.51 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The stock’s fifty day moving average is $134.78 and its 200 day moving average is $126.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.35%. Intercontinental Exchange’s dividend payout ratio is presently 41.28%.

Insiders Place Their Bets

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the business’s stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Intercontinental Exchange news, SVP Douglas Foley sold 7,070 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the transaction, the senior vice president now owns 18,383 shares in the company, valued at $2,501,742.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was purchased at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the transaction, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Insiders sold 157,832 shares of company stock worth $21,499,127 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ICE. JPMorgan Chase & Co. upped their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Piper Sandler increased their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Barclays lowered their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.92.

Intercontinental Exchange 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.