Sei Investments Co. lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 63.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 168,783 shares of the financial services provider’s stock after selling 287,858 shares during the quarter. Sei Investments Co.’s holdings in Intercontinental Exchange were worth $19,543,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of ICE. Kestra Advisory Services LLC bought a new position in Intercontinental Exchange in the third quarter valued at $919,000. Cowa LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $30,000. Diversified LLC bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Edge Wealth Management LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth approximately $33,000. Finally, Capstone Triton Financial Group LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $58,000. 87.42% of the stock is owned by institutional investors.
In related news, CFO Scott A. Hill sold 39,800 shares of the stock in a transaction dated Monday, December 7th. The shares were sold at an average price of $110.14, for a total value of $4,383,572.00. Following the completion of the transaction, the chief financial officer now directly owns 185,792 shares in the company, valued at approximately $20,463,130.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,000 shares of Intercontinental Exchange stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $118.00, for a total transaction of $118,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 123,058 shares of company stock worth $13,515,331 in the last quarter. Company insiders own 1.50% of the company’s stock.
A number of equities research analysts have recently issued reports on ICE shares. Zacks Investment Research cut shares of Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $118.00 price objective for the company. in a research note on Thursday, February 11th. Oppenheimer reaffirmed a “hold” rating on shares of Intercontinental Exchange in a research note on Monday, January 25th. Redburn Partners assumed coverage on Intercontinental Exchange in a research note on Tuesday, November 10th. They issued a “neutral” rating for the company. Piper Sandler increased their target price on Intercontinental Exchange from $117.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, January 7th. Finally, Barclays lifted their price target on Intercontinental Exchange from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 12th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $119.00.
Shares of Intercontinental Exchange stock opened at $111.72 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. Intercontinental Exchange, Inc. has a 12-month low of $63.51 and a 12-month high of $119.02. The company has a market cap of $62.75 billion, a P/E ratio of 30.78, a PEG ratio of 2.18 and a beta of 0.68. The company’s fifty day simple moving average is $113.81 and its two-hundred day simple moving average is $105.78.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 4th. The financial services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Intercontinental Exchange had a net margin of 26.19% and a return on equity of 13.63%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. Analysts predict that Intercontinental Exchange, Inc. will post 4.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.18%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, March 16th. Intercontinental Exchange’s payout ratio is presently 30.93%.
Intercontinental Exchange Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.
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