Mackenzie Financial Corp Grows Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Mackenzie Financial Corp grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 447,596 shares of the financial services provider’s stock after purchasing an additional 2,982 shares during the quarter. Mackenzie Financial Corp owned approximately 0.08% of Intercontinental Exchange worth $57,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ICE. RB Capital Management LLC boosted its stake in Intercontinental Exchange by 3.2% during the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after buying an additional 126 shares during the period. United Bank boosted its stake in Intercontinental Exchange by 2.7% during the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after buying an additional 422 shares during the period. U.S. Capital Wealth Advisors LLC boosted its stake in Intercontinental Exchange by 13.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock worth $245,000 after buying an additional 220 shares during the period. Sei Investments Co. boosted its stake in Intercontinental Exchange by 31.5% during the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock worth $27,077,000 after buying an additional 49,081 shares during the period. Finally, Prudential PLC purchased a new position in Intercontinental Exchange during the first quarter worth $1,679,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $129.89 on Wednesday. The company has a market capitalization of $74.37 billion, a PE ratio of 30.93, a P/E/G ratio of 2.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50-day simple moving average of $136.37 and a two-hundred day simple moving average of $124.17. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm’s revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. Research analysts expect that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.39%. Intercontinental Exchange’s payout ratio is currently 42.86%.

Insiders Place Their Bets

In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ICE shares. Barclays boosted their target price on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Citigroup boosted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $147.08.

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.