Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 84.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,948 shares of the financial services provider’s stock after buying an additional 30,690 shares during the quarter. Pacer Advisors Inc.’s holdings in Intercontinental Exchange were worth $8,598,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Intercontinental Exchange in the 3rd quarter worth approximately $25,000. Jones Financial Companies Lllp acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at $26,000. Fortitude Family Office LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. BKM Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $31,000. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ICE. Barclays lifted their price objective on shares of Intercontinental Exchange from $148.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. UBS Group lifted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.83.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Douglas Foley sold 7,070 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the sale, the senior vice president now owns 18,383 shares of the company’s stock, valued at $2,501,742.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The disclosure for this sale can be found here. Insiders have sold a total of 155,253 shares of company stock valued at $20,486,424 over the last quarter. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $136.98 on Thursday. The firm’s 50-day moving average is $133.97 and its 200-day moving average is $121.81. Intercontinental Exchange, Inc. has a 52-week low of $98.42 and a 52-week high of $140.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $78.44 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.43 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The business’s revenue was up 24.5% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.91 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.31%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s payout ratio is presently 42.86%.

About Intercontinental Exchange

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.