Whittier Trust Co. Boosts Stake in Intercontinental Exchange Inc. (NYSE:ICE)

Whittier Trust Co. increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,626 shares of the financial services provider’s stock after purchasing an additional 144 shares during the quarter. Whittier Trust Co.’s holdings in Intercontinental Exchange were worth $798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake 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 worth $7,782,521,000 after acquiring an additional 538,670 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 327,637 shares in the last quarter. Royal Bank of Canada raised its holdings in Intercontinental Exchange by 132.9% during the fourth 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 buying an additional 5,204,309 shares in the last quarter. Norges Bank acquired a new stake in Intercontinental Exchange during the fourth quarter worth about $1,196,258,000. Finally, Northern Trust Corp raised its stake in shares of Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock valued at $1,105,953,000 after acquiring an additional 655,247 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

ICE stock opened at $181.89 on Friday. The stock has a market capitalization of $104.34 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. 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 current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $183.99.

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

Intercontinental Exchange Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on ICE. Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Bank of America decreased their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Barclays upped their price objective 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. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.42.

Insiders Place Their Bets

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer directly owned 13,220 shares of the company’s stock, valued at approximately $2,379,600. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction of $26,883,000.00. Following the sale, 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 ninety days, insiders sold 226,119 shares of company stock worth $40,524,217. Insiders own 1.00% of the company’s stock.

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.