Inspire Trust Co. N.A. Grows Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Inspire Trust Co. N.A. grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 16,400 shares of the financial services provider’s stock after acquiring an additional 1,400 shares during the period. Inspire Trust Co. N.A.’s holdings in Intercontinental Exchange were worth $2,829,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ICE. Governors Lane LP raised its holdings in Intercontinental Exchange by 88.0% in the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock worth $18,939,000 after acquiring an additional 59,500 shares during the last quarter. Tema Etfs LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $1,107,000. Capital Investment Advisory Services LLC purchased a new position in Intercontinental Exchange in the 1st quarter worth approximately $349,000. Sequoia Financial Advisors LLC raised its holdings in Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock worth $2,099,000 after acquiring an additional 1,879 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,949,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on ICE shares. Keefe, Bruyette & Woods lifted 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. Barclays lifted their target price 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. Piper Sandler lifted their target price 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. UBS Group lifted their target price 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. Finally, Morgan Stanley lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $194.92.

Intercontinental Exchange Trading Down 0.8%

Shares of ICE stock opened at $181.21 on Thursday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm has a fifty day moving average price of $181.89 and a 200-day moving average price of $173.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $103.73 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.17 and a beta of 1.11.

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

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.1%. Intercontinental Exchange’s dividend payout ratio is currently 36.85%.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel owned 48,480 shares of the company’s stock, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief accounting officer directly owned 13,220 shares of the company’s stock, valued at $2,379,600. This represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 226,913 shares of company stock worth $40,671,107 in the last three months. Corporate insiders own 1.00% of the company’s stock.

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.