Intercontinental Exchange Inc. $ICE is Independent Franchise Partners LLP’s 8th Largest Position

Independent Franchise Partners LLP lessened its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 21.7% during the third quarter, HoldingsChannel.com reports. The fund owned 4,781,925 shares of the financial services provider’s stock after selling 1,323,410 shares during the period. Intercontinental Exchange makes up approximately 5.3% of Independent Franchise Partners LLP’s holdings, making the stock its 8th largest holding. Independent Franchise Partners LLP’s holdings in Intercontinental Exchange were worth $805,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ICE. Private Wealth Management Group LLC grew its position in shares of Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Knuff & Co LLC raised its position in shares of Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Caitlin John LLC purchased a new stake in shares of Intercontinental Exchange in the third quarter worth $32,000. Cornerstone Planning Group LLC boosted its stake in Intercontinental Exchange by 128.6% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after buying an additional 153 shares during the period. Finally, Capital A Wealth Management LLC boosted its stake in Intercontinental Exchange by 26,000.0% during the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after buying an additional 260 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 0.3%

NYSE ICE opened at $159.12 on Friday. 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 stock’s 50-day simple moving average is $164.52 and its two-hundred day simple moving average is $162.33. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a market capitalization of $90.36 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.71 and a beta of 1.03.

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

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend 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 analysts have weighed in on the company. Barclays set a $193.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $194.73.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total transaction of $383,460.00. Following the transaction, the chief financial officer directly owned 27,679 shares in the company, valued at $4,262,566. This trade represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The stock was 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 in the company, valued at $2,194,396.12. This trade represents a 44.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 348,418 shares of company stock valued at $54,196,631 over the last 90 days. Company 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.