Altrinsic Global Advisors LLC Sells 7,440 Shares of Intercontinental Exchange Inc. $ICE

Altrinsic Global Advisors LLC decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 5.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 123,387 shares of the financial services provider’s stock after selling 7,440 shares during the quarter. Intercontinental Exchange accounts for about 1.1% of Altrinsic Global Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Altrinsic Global Advisors LLC’s holdings in Intercontinental Exchange were worth $21,284,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Tsfg LLC lifted its position in shares of Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 103 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 143 shares during the last quarter. REAP Financial Group LLC increased its stake in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 91 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Intercontinental Exchange in the first quarter valued at approximately $30,000. Finally, Global Trust Asset Management LLC bought a new stake in Intercontinental Exchange in the first quarter valued at approximately $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ICE has been the subject of several research reports. Piper Sandler increased 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. UBS Group increased their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Barclays increased their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised their price target 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. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $194.92.

Intercontinental Exchange Stock Down 0.8%

Shares of NYSE ICE opened at $179.16 on Tuesday. The company has a market capitalization of $102.56 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 2.15 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 has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50 day moving average price is $182.24 and its 200-day moving average price is $174.31.

Intercontinental Exchange (NYSE:ICE) last released its earnings results 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 company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company earned $1.52 EPS. Intercontinental Exchange’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

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

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 1,570 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total transaction of $280,166.50. Following the completion of the transaction, the chief financial officer owned 22,106 shares in the company, valued at approximately $3,944,815.70. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares of the company’s stock, valued at approximately $4,847,511.24. The trade was a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 444,109 shares of company stock valued at $80,437,342 in the last 90 days. 1.00% of the stock is currently 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.