Iowa State Bank lifted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.4% in the first quarter, Holdings Channel.com reports. The fund owned 17,653 shares of the financial services provider’s stock after purchasing an additional 1,063 shares during the quarter. Iowa State Bank’s holdings in Intercontinental Exchange were worth $1,971,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. CX Institutional lifted its holdings in Intercontinental Exchange by 2,295.0% during the 1st quarter. CX Institutional now owns 16,933 shares of the financial services provider’s stock valued at $1,891,000 after purchasing an additional 16,226 shares during the last quarter. Symphony Financial Ltd. Co. acquired a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $1,447,000. Crescent Capital Consulting LLC acquired a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $142,000. UMB Bank N A MO acquired a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $6,081,000. Finally, DnB Asset Management AS grew its position in shares of Intercontinental Exchange by 0.9% during the 1st quarter. DnB Asset Management AS now owns 190,458 shares of the financial services provider’s stock worth $21,270,000 after buying an additional 1,760 shares during the period. 87.42% of the stock is owned by institutional investors.
A number of brokerages have weighed in on ICE. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $117.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, January 7th. Rosenblatt Securities lifted their price target on shares of Intercontinental Exchange from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, January 7th. Compass Point boosted their price objective on shares of Intercontinental Exchange from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, December 22nd. Barclays boosted their price objective on shares of Intercontinental Exchange from $125.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 12th. Finally, Raymond James boosted their price objective on shares of Intercontinental Exchange from $133.00 to $136.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 6th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $119.36.
Shares of NYSE:ICE traded up $0.87 on Friday, reaching $120.73. 2,414,382 shares of the company’s stock were exchanged, compared to its average volume of 2,372,642. The company has a fifty day moving average of $114.00 and a 200-day moving average of $109.06. Intercontinental Exchange, Inc. has a twelve month low of $86.00 and a twelve month high of $119.93. The company has a market capitalization of $67.94 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 2.18 and a beta of 0.68. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 4th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.05. Intercontinental Exchange had a net margin of 26.19% and a return on equity of 13.63%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 28.7% compared to the same quarter last year. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 4.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Wednesday, March 17th were given a dividend of $0.33 per share. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, March 16th. This represents a $1.32 annualized dividend and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 34.02%.
In related news, insider David S. Goone sold 9,066 shares of the stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $111.67, for a total transaction of $1,012,400.22. Following the sale, the insider now owns 208,567 shares in the company, valued at approximately $23,290,676.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Hill sold 6,142 shares of the stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $113.28, for a total transaction of $695,765.76. Following the sale, the chief financial officer now owns 175,062 shares in the company, valued at approximately $19,831,023.36. The disclosure for this sale can be found here. Insiders have sold a total of 31,236 shares of company stock worth $3,506,057 in the last quarter. 1.50% of the stock is currently owned by company insiders.
About Intercontinental Exchange
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
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