Intercontinental Exchange Inc. (NYSE:ICE) Position Trimmed by Boston Partners

Boston Partners decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 16.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,231,221 shares of the financial services provider’s stock after selling 245,047 shares during the period. Boston Partners’ holdings in Intercontinental Exchange were worth $211,644,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. E Fund Management Co. Ltd. grew its position in shares of Intercontinental Exchange by 4.2% during the first quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 61 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Intercontinental Exchange by 1.5% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 16,705 shares of the financial services provider’s stock worth $2,882,000 after acquiring an additional 245 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Intercontinental Exchange by 646.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,388 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 1,202 shares during the last quarter. S Bank Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the first quarter worth about $1,032,000. Finally, National Pension Service grew its position in shares of Intercontinental Exchange by 6.2% during the first quarter. National Pension Service now owns 1,316,189 shares of the financial services provider’s stock worth $227,043,000 after acquiring an additional 77,049 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $181.21 on Thursday. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $103.73 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.17 and a beta of 1.11. The firm has a 50-day moving average of $181.89 and a two-hundred day moving average of $173.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company earned $1.52 EPS. Intercontinental Exchange’s revenue was up 9.8% on a year-over-year basis. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.1%. Intercontinental Exchange’s payout ratio is 36.85%.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the sale, the senior vice president directly owned 27,313 shares of the company’s stock, valued at approximately $4,847,511.24. This represents a 5.53% 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, Director Sharon Bowen sold 794 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $185.00, for a total transaction of $146,890.00. Following the sale, the director directly owned 14,206 shares of the company’s stock, valued at $2,628,110. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,913 shares of company stock worth $40,671,107 in the last ninety days. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ICE shares. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. UBS Group upped their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Barclays increased their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Piper Sandler increased their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.92.

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.