Commerzbank Aktiengesellschaft FI Sells 1,440 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Commerzbank Aktiengesellschaft FI trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 12.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,805 shares of the financial services provider’s stock after selling 1,440 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Intercontinental Exchange were worth $1,691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock valued at $7,782,521,000 after purchasing an additional 538,670 shares during the last quarter. Geode Capital Management LLC raised its stake in Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock valued at $1,765,317,000 after buying an additional 327,637 shares in the last quarter. Royal Bank of Canada increased its position in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after acquiring an additional 5,204,309 shares during the period. Norges Bank purchased a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $1,196,258,000. Finally, Northern Trust Corp boosted its stake in shares of Intercontinental Exchange by 9.7% during the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock worth $1,105,953,000 after acquiring an additional 655,247 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO James W. Namkung sold 612 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the sale, the chief accounting officer directly owned 13,220 shares in the company, valued at $2,379,600. This represents a 4.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the transaction, the chief executive officer 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 quarter, insiders sold 226,119 shares of company stock worth $40,524,217. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ICE shares. Morgan Stanley boosted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. UBS Group increased their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Bank of America dropped their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Barclays raised their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Finally, Piper Sandler raised their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $194.42.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $181.89 on Friday. The company’s 50-day moving average is $178.91 and its 200 day moving average is $168.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $104.34 billion, a P/E ratio of 37.66, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $183.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.48 earnings per share. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. Intercontinental Exchange’s payout ratio is currently 39.75%.

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.