LGT Capital Partners LTD. Has $19.88 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

LGT Capital Partners LTD. lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,770 shares of the financial services provider’s stock after selling 15,740 shares during the quarter. LGT Capital Partners LTD.’s holdings in Intercontinental Exchange were worth $19,877,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ICE. Fortitude Family Office LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp bought a new stake in Intercontinental Exchange during the third quarter worth $26,000. OFI Invest Asset Management bought a new position in Intercontinental Exchange in the 3rd quarter valued at $25,000. BKM Wealth Management LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at about $31,000. Finally, First Capital Advisors Group LLC. purchased a new stake in Intercontinental Exchange in the second quarter worth $35,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $137.37 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $134.20 and its two-hundred day moving average price is $121.92. The stock has a market capitalization of $78.66 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 2.45 and a beta of 1.02. Intercontinental Exchange, Inc. has a 12-month low of $99.84 and a 12-month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $1.25 EPS. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 5.91 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.45 per share. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.31%. Intercontinental Exchange’s dividend payout ratio is 42.86%.

Insider Activity

In related news, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares in the company, valued at approximately $2,544,198.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Warren Gardiner sold 500 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Insiders sold a total of 155,253 shares of company stock worth $20,486,424 in the last quarter. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Intercontinental Exchange from $148.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Rosenblatt Securities raised their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. Piper Sandler boosted their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Finally, Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $133.00 to $139.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.83.

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.