Findlay Park Partners LLP Decreases Holdings in Intercontinental Exchange Inc. $ICE

Findlay Park Partners LLP lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 971,869 shares of the financial services provider’s stock after selling 17,600 shares during the period. Intercontinental Exchange accounts for 1.7% of Findlay Park Partners LLP’s investment portfolio, making the stock its 26th biggest holding. Findlay Park Partners LLP owned approximately 0.17% of Intercontinental Exchange worth $163,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Westside Investment Management Inc. purchased a new stake in Intercontinental Exchange during the second quarter valued at about $29,000. Private Wealth Management Group LLC raised its position in shares of Intercontinental Exchange by 59.5% in the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the period. Knuff & Co LLC lifted its stake in shares of Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Caitlin John LLC bought a new position in Intercontinental Exchange in the 3rd quarter worth approximately $32,000. Finally, Cornerstone Planning Group LLC boosted its holdings in Intercontinental Exchange by 128.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $46,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Tuesday, February 10th. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $195.40.

Intercontinental Exchange Stock Up 0.7%

Shares of NYSE ICE opened at $164.05 on Friday. The stock has a market capitalization of $93.17 billion, a P/E ratio of 28.43, a PEG ratio of 1.70 and a beta of 1.02. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The firm’s 50 day simple moving average is $164.47 and its two-hundred day simple moving average is $163.57. 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 (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $1.52 EPS. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is 33.28%.

Insider Activity at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the sale, the insider owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lynn C. Martin sold 13,456 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 54,319 shares in the company, valued at $8,357,521.34. This represents a 19.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 354,492 shares of company stock worth $55,139,102 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange 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.