LGT Fund Management Co Ltd. Acquires 4,341 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

LGT Fund Management Co Ltd. lifted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 7.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 64,463 shares of the financial services provider’s stock after acquiring an additional 4,341 shares during the quarter. Intercontinental Exchange accounts for about 1.0% of LGT Fund Management Co Ltd.’s holdings, making the stock its 25th biggest holding. LGT Fund Management Co Ltd.’s holdings in Intercontinental Exchange were worth $11,120,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in shares of Intercontinental Exchange by 58.6% in the 1st quarter. Russell Investments Group Ltd. now owns 611,448 shares of the financial services provider’s stock worth $105,584,000 after acquiring an additional 225,863 shares during the last quarter. Prudential PLC lifted its holdings in shares of Intercontinental Exchange by 679.1% in the 1st quarter. Prudential PLC now owns 102,039 shares of the financial services provider’s stock worth $17,602,000 after acquiring an additional 88,942 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in shares of Intercontinental Exchange by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 185,129 shares of the financial services provider’s stock worth $32,000,000 after acquiring an additional 14,060 shares during the last quarter. Rathbones Group PLC raised its holdings in Intercontinental Exchange by 14.6% during the 1st quarter. Rathbones Group PLC now owns 545,959 shares of the financial services provider’s stock valued at $94,178,000 after buying an additional 69,415 shares during the last quarter. Finally, Stone House Investment Management LLC bought a new stake in Intercontinental Exchange during the 1st quarter valued at $85,000. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ICE shares. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Keefe, Bruyette & Woods upped their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Barclays upped their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, August 1st. UBS Group upped their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $194.92.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value 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 represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the sale, the senior vice president directly owned 27,313 shares in the company, valued at $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,913 shares of company stock worth $40,671,107. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Down 0.2%

Shares of Intercontinental Exchange stock opened at $185.98 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $181.78 and its two-hundred day simple moving average is $172.96. The company has a market cap of $106.46 billion, a P/E ratio of 35.70, a PEG ratio of 2.21 and a beta of 1.11. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 EPS. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

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

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.