Intercontinental Exchange Inc. $ICE Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 2.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 134,775 shares of the financial services provider’s stock after selling 3,240 shares during the quarter. Cresset Asset Management LLC’s holdings in Intercontinental Exchange were worth $22,707,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at $1,542,780,000. Sands Capital Management LLC increased its position in Intercontinental Exchange by 97.3% during the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after purchasing an additional 2,620,310 shares in the last quarter. C WorldWide Group Holding A S raised its stake in Intercontinental Exchange by 29,199.5% in the 2nd quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock valued at $303,129,000 after purchasing an additional 1,646,562 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in Intercontinental Exchange by 179.1% in the 3rd quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock valued at $416,544,000 after purchasing an additional 1,586,620 shares during the last quarter. Finally, Waverton Investment Management Ltd lifted its holdings in Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after purchasing an additional 1,521,467 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $166.24 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a market cap of $94.41 billion, a P/E ratio of 28.81, a P/E/G ratio of 1.72 and a beta of 1.03. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The firm’s 50 day moving average is $164.66 and its two-hundred day moving average is $163.09.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. Analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is currently 33.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, February 6th. Piper Sandler restated an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. UBS Group reaffirmed a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Monday, February 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $180.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $195.40.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the transaction, the insider directly owned 14,266 shares of the company’s stock, valued at $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 12,861 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the sale, the president owned 165,692 shares of the company’s stock, valued at approximately $27,339,180. This represents a 7.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 359,063 shares of company stock worth $55,879,604. Corporate insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.