JM2 Capital Inc. Acquires Shares of 5,710 Intercontinental Exchange Inc. $ICE

JM2 Capital Inc. acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the fourth quarter, Holdings Channel.com reports. The firm acquired 5,710 shares of the financial services provider’s stock, valued at approximately $925,000.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp increased its position in Intercontinental Exchange by 0.8% during the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock valued at $4,181,125,000 after acquiring an additional 194,325 shares during the last quarter. Wellington Management Group LLP increased its position in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after acquiring an additional 4,067,922 shares during the last quarter. Capital World Investors increased its position in Intercontinental Exchange by 15.2% during the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after acquiring an additional 928,047 shares during the last quarter. Sands Capital Management LLC increased its position in Intercontinental Exchange by 6.9% during the third quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider’s stock valued at $956,506,000 after acquiring an additional 364,227 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Intercontinental Exchange by 3.1% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,967,071 shares of the financial services provider’s stock valued at $836,852,000 after acquiring an additional 148,923 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ICE shares. Piper Sandler reissued an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research note on Friday, March 6th. Finally, Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $192.20.

Intercontinental Exchange Stock Up 2.4%

NYSE:ICE opened at $164.43 on Tuesday. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The company has a 50-day moving average of $160.09 and a 200 day moving average of $160.22. The firm has a market cap of $93.14 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is 36.05%.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 3,865 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the transaction, the president directly owned 165,304 shares in the company, valued at approximately $25,412,183.92. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the transaction, the general counsel owned 48,181 shares of the company’s stock, valued at $7,805,322. This represents a 8.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 348,418 shares of company stock valued at $54,196,631 over the last quarter. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.