KBC Group NV Decreases Holdings in Intercontinental Exchange Inc. $ICE

KBC Group NV decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 18.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 221,877 shares of the financial services provider’s stock after selling 50,391 shares during the period. KBC Group NV’s holdings in Intercontinental Exchange were worth $35,935,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. State Street Corp grew its holdings in Intercontinental Exchange by 0.8% in 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 purchasing an additional 194,325 shares during the last quarter. Wellington Management Group LLP grew its holdings in Intercontinental Exchange by 64.7% in 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 purchasing an additional 4,067,922 shares during the last quarter. Capital World Investors grew its holdings in Intercontinental Exchange by 15.2% in 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 purchasing an additional 928,047 shares during the last quarter. Sands Capital Management LLC grew its holdings in Intercontinental Exchange by 6.9% in 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 purchasing an additional 364,227 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Intercontinental Exchange by 3.1% in 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 purchasing an additional 148,923 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the sale, the insider owned 54,319 shares of the company’s stock, valued at $8,357,521.34. This trade represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total value of $383,460.00. Following the sale, the chief financial officer directly owned 27,679 shares in the company, valued at approximately $4,262,566. The trade was a 8.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 348,418 shares of company stock valued at $54,196,631. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ICE has been the topic of several research reports. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday. Finally, UBS Group reissued a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $193.80.

Intercontinental Exchange Stock Down 0.9%

ICE opened at $163.53 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The firm has a market cap of $92.63 billion, a P/E ratio of 28.34, a PEG ratio of 1.75 and a beta of 1.03. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The business’s fifty day simple moving average is $160.00 and its 200 day simple moving average is $160.24.

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

Intercontinental Exchange Announces Dividend

The business 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 dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 36.05%.

About Intercontinental Exchange

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.