Intercontinental Exchange Inc. $ICE Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 0.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,739,531 shares of the financial services provider’s stock after purchasing an additional 54,040 shares during the period. Vanguard Group Inc. owned about 9.43% of Intercontinental Exchange worth $9,054,036,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 1.2% in the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock valued at $2,270,657,000 after buying an additional 145,961 shares in the last quarter. Norges Bank acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $1,542,780,000. Sands Capital Management LLC increased its holdings in Intercontinental Exchange by 97.3% during the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. Legal & General Group Plc raised its position in Intercontinental Exchange by 4.1% during the second quarter. Legal & General Group Plc now owns 3,510,634 shares of the financial services provider’s stock worth $644,096,000 after acquiring an additional 137,685 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Intercontinental Exchange by 0.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,300,316 shares of the financial services provider’s stock valued at $605,509,000 after purchasing an additional 23,087 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 1.7%

ICE stock opened at $152.31 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a market cap of $86.50 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.59 and a beta of 1.02. The business has a fifty day simple moving average of $165.15 and a 200-day simple moving average of $165.14. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results 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 firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 earnings per share. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.4%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 33.28%.

Insider Activity

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 4,722 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $169.19, for a total transaction of $798,915.18. Following the completion of the sale, the director directly owned 9,747 shares in the company, valued at $1,649,094.93. The trade was a 32.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin Jackson sold 12,861 shares of Intercontinental Exchange stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the transaction, the president owned 165,692 shares in the company, valued at $27,339,180. The trade was a 7.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 181,570 shares of company stock valued at $28,077,452 over the last quarter. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent research reports. Raymond James Financial reissued a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (down previously from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Tuesday, February 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $195.40.

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.