Intercontinental Exchange Inc. (NYSE:ICE) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 247,982 shares of the financial services provider’s stock after selling 3,381 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Intercontinental Exchange were worth $42,777,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Berkeley Capital Partners LLC increased its stake in shares of Intercontinental Exchange by 1.1% in the first quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider’s stock worth $973,000 after acquiring an additional 62 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in Intercontinental Exchange by 17.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider’s stock worth $74,000 after buying an additional 63 shares in the last quarter. Values Added Financial LLC boosted its holdings in Intercontinental Exchange by 4.4% during the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider’s stock worth $264,000 after buying an additional 64 shares in the last quarter. MV Capital Management Inc. boosted its holdings in Intercontinental Exchange by 15.7% during the first quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider’s stock worth $86,000 after buying an additional 68 shares in the last quarter. Finally, Quadcap Wealth Management LLC boosted its holdings in Intercontinental Exchange by 1.2% during the fourth quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider’s stock worth $918,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $184.52 on Monday. 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 fifty day moving average of $179.80 and a two-hundred day moving average of $170.17. The stock has a market capitalization of $105.84 billion, a PE ratio of 38.20, a P/E/G ratio of 2.02 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 $185.30.

Intercontinental Exchange (NYSE:ICE) last released its earnings results 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 business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.04%. Intercontinental Exchange’s payout ratio is 39.75%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ICE shares. Piper Sandler increased their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Bank of America reduced their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Morgan Stanley upped their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Finally, UBS Group upped their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.42.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Sharon Bowen sold 795 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the completion of the sale, the director owned 15,000 shares of the company’s stock, valued at $2,749,500. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the transaction, the chief executive officer directly owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,119 shares of company stock valued at $40,524,217. 1.00% of the stock is owned by company insiders.

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.