Intercontinental Exchange Inc. (NYSE:ICE) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 245,768 shares of the financial services provider’s stock after purchasing an additional 16,661 shares during the period. King Luther Capital Management Corp’s holdings in Intercontinental Exchange were worth $42,395,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Intercontinental Exchange by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock worth $9,132,211,000 after purchasing an additional 712,179 shares during the period. Royal Bank of Canada raised its position in Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after buying an additional 5,204,309 shares during the last quarter. Northern Trust Corp raised its position in 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 buying an additional 655,247 shares during the last quarter. Independent Franchise Partners LLP raised its position in Intercontinental Exchange by 20.8% during the 4th quarter. Independent Franchise Partners LLP now owns 6,160,836 shares of the financial services provider’s stock worth $918,026,000 after buying an additional 1,062,904 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Intercontinental Exchange by 50.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock worth $1,023,534,000 after buying an additional 1,993,084 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel directly owned 48,480 shares of the company’s stock, valued at $8,683,737.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sharon Bowen sold 794 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $185.00, for a total transaction of $146,890.00. Following the sale, the director directly owned 14,206 shares in the company, valued at $2,628,110. This represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,913 shares of company stock worth $40,671,107 in the last 90 days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ICE. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Barclays upped their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods upped their price objective 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. Piper Sandler upped their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, UBS Group upped their price objective 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. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $194.92.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $186.53 on Friday. The stock has a market cap of $106.77 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 2.21 and a beta of 1.11. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company’s 50-day moving average price is $181.66 and its 200 day moving average price is $172.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.52 EPS. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.0%. Intercontinental Exchange’s payout ratio is 36.85%.

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.