Inspire Trust Co. N.A. Has $2.83 Million Stake in Intercontinental Exchange Inc. (NYSE:ICE)

Inspire Trust Co. N.A. boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,400 shares of the financial services provider’s stock after buying an additional 1,400 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Intercontinental Exchange were worth $2,829,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ICE. Governors Lane LP raised its position in shares of Intercontinental Exchange by 88.0% in the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock worth $18,939,000 after acquiring an additional 59,500 shares in the last quarter. Tema Etfs LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $1,107,000. Capital Investment Advisory Services LLC bought a new stake in Intercontinental Exchange during the 1st quarter worth approximately $349,000. Sequoia Financial Advisors LLC increased its holdings in Intercontinental Exchange by 18.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock worth $2,099,000 after purchasing an additional 1,879 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,949,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 794 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $185.00, for a total transaction of $146,890.00. Following the sale, the director owned 14,206 shares in the company, valued at $2,628,110. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the transaction, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,913 shares of company stock valued at $40,671,107. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ICE. Barclays boosted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. UBS Group upped their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company 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 company an “outperform” rating in a report on Friday, May 2nd. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company 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 presently has an average rating of “Moderate Buy” and an average price target of $194.92.

Intercontinental Exchange Trading Down 0.8%

Shares of ICE stock opened at $181.21 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a market capitalization of $103.73 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11. The business’s fifty day moving average is $181.89 and its 200 day moving average is $173.08.

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

Intercontinental Exchange Dividend Announcement

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

Intercontinental Exchange Profile

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.