Intercontinental Exchange Inc. $ICE Stock Position Lifted by Prudential PLC

Prudential PLC boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 12.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,118 shares of the financial services provider’s stock after buying an additional 13,853 shares during the quarter. Prudential PLC’s holdings in Intercontinental Exchange were worth $21,080,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ICE. Private Wealth Management Group LLC grew its holdings 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 acquiring an additional 66 shares in the last quarter. Knuff & Co LLC raised its holdings in shares of Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Caitlin John LLC acquired a new stake in Intercontinental Exchange during the third quarter valued at $32,000. Cornerstone Planning Group LLC boosted its position 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 purchasing an additional 153 shares during the last quarter. Finally, Capital A Wealth Management LLC grew its stake in Intercontinental Exchange by 26,000.0% in the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the transaction, the chief executive officer owned 1,651,705 shares in the company, valued at approximately $256,014,275. The trade was a 8.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lynn C. Martin sold 13,456 shares of Intercontinental Exchange stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the sale, the insider directly owned 54,319 shares in the company, valued at approximately $8,357,521.34. This trade represents a 19.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 348,418 shares of company stock worth $54,196,631. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of several research reports. UBS Group reaffirmed a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research report on Friday, March 6th. Finally, Barclays set a $193.00 target price on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $194.73.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $159.12 on Friday. The business’s 50-day simple moving average is $164.52 and its 200-day simple moving average is $162.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The firm has a market cap of $90.36 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.71 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 EPS. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

Intercontinental Exchange Company Profile

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.