Sciencast Management LP Purchases Shares of 7,100 Intercontinental Exchange, Inc. (NYSE:ICE)

Sciencast Management LP purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,100 shares of the financial services provider’s stock, valued at approximately $800,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Intercontinental Exchange by 1.5% in the 1st quarter. BlackRock Inc. now owns 41,663,328 shares of the financial services provider’s stock worth $4,345,068,000 after buying an additional 608,371 shares during the last quarter. Morgan Stanley boosted its stake in shares of Intercontinental Exchange by 18.9% in the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock worth $2,606,466,000 after buying an additional 4,044,744 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Intercontinental Exchange by 45.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock worth $1,755,753,000 after buying an additional 5,354,161 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Intercontinental Exchange by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 10,503,361 shares of the financial services provider’s stock worth $1,092,660,000 after buying an additional 127,481 shares during the last quarter. Finally, Veritas Asset Management LLP boosted its stake in shares of Intercontinental Exchange by 76.9% in the 1st quarter. Veritas Asset Management LLP now owns 7,450,402 shares of the financial services provider’s stock worth $777,002,000 after buying an additional 3,239,605 shares during the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $117.14, for a total transaction of $234,280.00. Following the completion of the transaction, the president now owns 125,647 shares of the company’s stock, valued at $14,718,289.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 1,427 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $115.00, for a total transaction of $164,105.00. Following the completion of the transaction, the insider now owns 14,829 shares of the company’s stock, valued at $1,705,335. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Benjamin Jackson sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $117.14, for a total transaction of $234,280.00. Following the sale, the president now owns 125,647 shares in the company, valued at approximately $14,718,289.58. The disclosure for this sale can be found here. Insiders sold a total of 10,563 shares of company stock valued at $1,218,379 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $115.89 on Tuesday. The company has a market cap of $64.93 billion, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93. The company has a 50-day moving average price of $115.40 and a 200-day moving average price of $109.62. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 12 month low of $88.60 and a 12 month high of $118.79.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.37 by $0.06. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm posted $1.32 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Thursday, September 14th. Intercontinental Exchange’s payout ratio is currently 55.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ICE shares. Barclays lowered their price target on shares of Intercontinental Exchange from $128.00 to $122.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $125.00 to $135.00 in a report on Wednesday, July 5th. UBS Group boosted their target price on shares of Intercontinental Exchange from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 8th. Jefferies Financial Group upped their price target on shares of Intercontinental Exchange from $129.00 to $134.00 in a report on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $133.09.

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.