Carnegie Capital Asset Management LLC Purchases 110 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Carnegie Capital Asset Management LLC boosted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,581 shares of the financial services provider’s stock after acquiring an additional 110 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Intercontinental Exchange were worth $1,744,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ICE. Nordea Investment Management AB boosted its position in shares of Intercontinental Exchange by 27.3% during the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after buying an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of 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 during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Intercontinental Exchange by 9.3% during 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 purchasing an additional 105,042 shares during the last quarter. First County Bank CT lifted 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 during the period. Finally, CIC Wealth LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth approximately $221,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the completion of the transaction, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the transaction, the chief financial officer now owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The disclosure for this sale can be found here. Insiders sold a total of 157,491 shares of company stock valued at $21,454,204 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Down 2.2 %

Shares of ICE stock opened at $130.58 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The company’s fifty day moving average price is $136.30 and its 200-day moving average price is $124.03. The company has a market capitalization of $74.77 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 2.11 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. Intercontinental Exchange’s payout ratio is currently 42.86%.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research reports. Piper Sandler boosted their target price 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. Barclays raised their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Citigroup upped their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.08.

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.