PFG Investments LLC Boosts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

PFG Investments LLC raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 35.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,172 shares of the financial services provider’s stock after acquiring an additional 1,089 shares during the period. PFG Investments LLC’s holdings in Intercontinental Exchange were worth $573,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Nordea Investment Management AB grew its stake in Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after buying an additional 12,208 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Intercontinental Exchange by 7.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after acquiring an additional 8,320 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Intercontinental Exchange by 9.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock valued at $158,738,000 after acquiring an additional 105,042 shares during the last quarter. First County Bank CT raised its position in Intercontinental Exchange by 2.7% during the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 100 shares in the last quarter. Finally, RWA Wealth Partners LLC lifted its stake in Intercontinental Exchange by 106.2% during the fourth quarter. RWA Wealth Partners LLC now owns 22,928 shares of the financial services provider’s stock worth $2,945,000 after purchasing an additional 11,809 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.7 %

ICE traded down $0.92 during trading on Monday, reaching $130.78. The stock had a trading volume of 1,557,866 shares, compared to its average volume of 2,376,438. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $74.89 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 2.15 and a beta of 1.02. The stock’s 50 day moving average is $135.74 and its two-hundred day moving average is $125.52. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business earned $1.25 EPS. Intercontinental Exchange’s quarterly revenue was up 24.5% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 1.38%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.86%.

Insider Transactions at Intercontinental Exchange

In other news, President Benjamin Jackson sold 27,970 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total value of $3,768,677.80. Following the sale, the president now directly owns 138,487 shares of the company’s stock, valued at $18,659,738.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, President Benjamin Jackson sold 27,970 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total value of $3,768,677.80. Following the transaction, the president now directly owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the stock in a transaction dated Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the acquisition, the insider now owns 649,934 shares of the company’s stock, valued at $565,442.58. The disclosure for this purchase can be found here. Insiders have sold a total of 157,491 shares of company stock valued at $21,454,204 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ICE. Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Rosenblatt Securities boosted their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Friday, February 9th. UBS Group upped their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Finally, Raymond James lifted their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.08.

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.