Intercontinental Exchange, Inc Acquires 350,880 Shares of Intercontinental Exchange, Inc. (NYSE:ICE) Stock

Intercontinental Exchange, Inc. (NYSE:ICE) major shareholder Intercontinental Exchange, Inc bought 350,880 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, April 25th. The shares were bought at an average cost of $0.87 per share, with a total value of $305,265.60. Following the acquisition, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Intercontinental Exchange, Inc also recently made the following trade(s):

• On Monday, March 4th, Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock. The stock was acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83.

Intercontinental Exchange Price Performance

ICE stock opened at $128.76 on Wednesday. The company has a 50 day simple moving average of $135.58 and a 200 day simple moving average of $125.65. The stock has a market cap of $73.73 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 2.15 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. 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 (NYSE:ICE) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. Research analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.40%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

Hedge Funds Weigh In On Intercontinental Exchange

Institutional investors have recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC increased its position in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Intercontinental Exchange in the 1st quarter valued at approximately $26,000. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Venturi Wealth Management LLC increased its position in Intercontinental Exchange by 82.3% in the 1st quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 93 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Bank of America cut their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $148.08.

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.