Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 218,370 shares of the financial services provider’s stock after buying an additional 2,948 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Intercontinental Exchange were worth $28,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. Jefferies Financial Group Inc. increased its stake in Intercontinental Exchange by 3.8% in the 2nd quarter. Jefferies Financial Group Inc. now owns 2,432 shares of the financial services provider’s stock worth $275,000 after buying an additional 88 shares in the last quarter. Vinva Investment Management Ltd grew its position in shares of Intercontinental Exchange by 0.6% during the third quarter. Vinva Investment Management Ltd now owns 16,736 shares of the financial services provider’s stock valued at $1,855,000 after purchasing an additional 93 shares in the last quarter. Vestcor Inc grew its position in shares of Intercontinental Exchange by 0.5% during the fourth quarter. Vestcor Inc now owns 17,924 shares of the financial services provider’s stock valued at $1,839,000 after purchasing an additional 94 shares in the last quarter. Timber Creek Capital Management LLC grew its position in shares of Intercontinental Exchange by 0.3% during the fourth quarter. Timber Creek Capital Management LLC now owns 34,466 shares of the financial services provider’s stock valued at $4,426,000 after purchasing an additional 94 shares in the last quarter. Finally, HBK Sorce Advisory LLC grew its position in shares of Intercontinental Exchange by 4.8% during the third quarter. HBK Sorce Advisory LLC now owns 2,116 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ICE. 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 objective on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Barclays increased their price target on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Piper Sandler increased their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.08.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 27,970 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the sale, the president now owns 138,487 shares in the company, valued at $18,659,738.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Warren Gardiner sold 2,176 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the completion of the transaction, the chief financial officer now owns 12,061 shares of the company’s stock, valued at $1,640,296. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Benjamin Jackson sold 27,970 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the completion of the transaction, the president now directly owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,491 shares of company stock worth $21,454,204. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Down 0.5 %

Shares of NYSE ICE opened at $129.89 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $74.37 billion, a P/E ratio of 30.93, a PEG ratio of 2.07 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The firm has a 50-day simple moving average of $136.37 and a two-hundred day simple moving average of $124.17.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. Intercontinental Exchange’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. Research analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.45 dividend. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.39%. Intercontinental Exchange’s payout ratio is presently 42.86%.

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.