PGGM Investments Has $575,000 Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

PGGM Investments raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 106.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,478 shares of the financial services provider’s stock after purchasing an additional 2,314 shares during the period. PGGM Investments’ holdings in Intercontinental Exchange were worth $575,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in Intercontinental Exchange by 219.8% in the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after buying an additional 8,348,126 shares during the period. Invesco Ltd. lifted its stake in Intercontinental Exchange by 21.1% in the third quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock valued at $668,231,000 after buying an additional 1,058,536 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Intercontinental Exchange by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after buying an additional 1,012,034 shares in the last quarter. Barclays PLC increased its stake in shares of Intercontinental Exchange by 58.8% in the 3rd quarter. Barclays PLC now owns 2,374,570 shares of the financial services provider’s stock valued at $261,251,000 after acquiring an additional 879,646 shares in the last quarter. Finally, Third Point LLC boosted its stake in Intercontinental Exchange by 29.2% during the third quarter. Third Point LLC now owns 2,389,934 shares of the financial services provider’s stock worth $262,941,000 after acquiring an additional 539,934 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange 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 transaction of $3,768,677.80. Following the completion of the transaction, the president now directly owns 138,487 shares of the company’s stock, valued at $18,659,738.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Douglas Foley sold 7,070 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $136.09, for a total value of $962,156.30. Following the sale, the senior vice president now directly owns 18,383 shares in the company, valued at approximately $2,501,742.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Benjamin Jackson sold 27,970 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the transaction, the president now owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Insiders sold a total of 157,491 shares of company stock worth $21,454,204 in the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of several research reports. 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 report on Monday, February 12th. Morgan Stanley upped their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Bank of America decreased their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Piper Sandler raised 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. Finally, Citigroup boosted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $148.08.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $130.78 on Tuesday. The firm has a market capitalization of $74.89 billion, a P/E ratio of 31.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. 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 business’s fifty day simple moving average is $135.74 and its 200 day simple moving average is $125.52. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The company 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 revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 EPS for the current year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.45 per share. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is currently 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.