American Money Management LLC Has $5.17 Million Stake in Intercontinental Exchange Inc. (NYSE:ICE)

American Money Management LLC raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 111.0% in the first quarter, Holdings Channel reports. The fund owned 29,962 shares of the financial services provider’s stock after acquiring an additional 15,761 shares during the period. American Money Management LLC’s holdings in Intercontinental Exchange were worth $5,169,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. REAP Financial Group LLC grew its stake in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 91 shares during the period. Tsfg LLC grew its stake in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares during the period. Menard Financial Group LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $29,000. Rakuten Securities Inc. grew its stake in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new position in Intercontinental Exchange in the first quarter valued at about $30,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Sharon Bowen sold 794 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $185.00, for a total value of $146,890.00. Following the completion of the sale, the director directly owned 14,206 shares of the company’s stock, valued at $2,628,110. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the sale, the chief executive officer directly owned 2,101,705 shares of the company’s stock, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,913 shares of company stock valued at $40,671,107. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays boosted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $194.92.

Intercontinental Exchange Stock Down 0.8%

NYSE:ICE opened at $181.21 on Thursday. The firm has a market capitalization of $103.73 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The stock’s 50 day moving average price is $181.89 and its two-hundred day moving average price is $173.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 EPS. Equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.1%. Intercontinental Exchange’s payout ratio is 36.85%.

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.