Xponance Inc. Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Xponance Inc. grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 74,586 shares of the financial services provider’s stock after buying an additional 3,791 shares during the quarter. Xponance Inc.’s holdings in Intercontinental Exchange were worth $9,579,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in Intercontinental Exchange during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp purchased a new stake in Intercontinental Exchange during the third quarter worth approximately $26,000. OFI Invest Asset Management purchased a new stake in Intercontinental Exchange during the third quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in Intercontinental Exchange during the fourth quarter worth approximately $31,000. Finally, Rakuten Securities Inc. acquired a new position in Intercontinental Exchange during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock traded up $0.62 on Friday, reaching $131.60. 212,394 shares of the company’s stock were exchanged, compared to its average volume of 2,370,416. The stock has a fifty day moving average of $136.36 and a 200-day moving average of $124.27. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43. The firm has a market cap of $75.36 billion, a PE ratio of 31.19, a P/E/G ratio of 2.07 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICE) last announced 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 quarter in the prior year, the company posted $1.25 earnings per share. Intercontinental Exchange’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

Insider Buying and Selling

In related news, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 7,070 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.09, for a total value of $962,156.30. Following the sale, the senior vice president now owns 18,383 shares in the company, valued at $2,501,742.47. The disclosure for this sale can be found here. Insiders have sold 157,491 shares of company stock valued at $21,454,204 over the last quarter. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on ICE shares. Piper Sandler lifted their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Rosenblatt Securities lifted their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Barclays lifted their price target on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. UBS Group lifted their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, Citigroup lifted their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.08.

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.