Cannell & Co. Has $7.12 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Cannell & Co. reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 27.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,428 shares of the financial services provider’s stock after selling 21,435 shares during the period. Cannell & Co.’s holdings in Intercontinental Exchange were worth $7,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Intercontinental Exchange by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock valued at $5,162,041,000 after acquiring an additional 1,012,034 shares in the last quarter. Wellington Management Group LLP raised its holdings in Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after acquiring an additional 8,348,126 shares in the last quarter. Northern Trust Corp raised its holdings in Intercontinental Exchange by 3.9% in the 3rd quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock valued at $832,623,000 after acquiring an additional 282,963 shares in the last quarter. Invesco Ltd. raised its holdings in Intercontinental Exchange by 21.1% in the 3rd quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock valued at $668,231,000 after acquiring an additional 1,058,536 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Intercontinental Exchange by 3.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,847,229 shares of the financial services provider’s stock valued at $533,292,000 after acquiring an additional 173,236 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on ICE. Morgan Stanley lifted their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Piper Sandler lifted their price target on Intercontinental Exchange from $135.00 to $149.00 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 note on Wednesday, February 14th. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, Raymond James lifted their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, January 5th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.08.

Intercontinental Exchange Trading Down 0.1 %

Shares of ICE stock opened at $128.62 on Thursday. The firm has a market capitalization of $73.65 billion, a P/E ratio of 30.62, a P/E/G ratio of 2.11 and a beta of 1.02. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $135.42 and its 200 day simple moving average is $125.67.

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. The business had revenue of $2.20 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.40%. 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 payout ratio is 42.86%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,832 shares of company stock worth $21,499,127. Insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

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.