OFI Invest Asset Management Buys 399,775 Shares of Intercontinental Exchange Inc. $ICE

OFI Invest Asset Management raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 51,986.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 400,544 shares of the financial services provider’s stock after purchasing an additional 399,775 shares during the quarter. Intercontinental Exchange accounts for about 0.8% of OFI Invest Asset Management’s investment portfolio, making the stock its 25th biggest position. OFI Invest Asset Management owned about 0.07% of Intercontinental Exchange worth $64,872,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dynasty Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at about $897,000. Rockland Trust Co. boosted its position in shares of Intercontinental Exchange by 19.7% during the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after acquiring an additional 20,981 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Intercontinental Exchange by 37.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock valued at $2,008,000 after acquiring an additional 3,261 shares in the last quarter. Eastern Bank boosted its position in shares of Intercontinental Exchange by 14.6% during the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock valued at $34,325,000 after acquiring an additional 25,980 shares in the last quarter. Finally, M&G PLC boosted its position in shares of Intercontinental Exchange by 18.4% during the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after acquiring an additional 16,635 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,861 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total value of $2,122,065.00. Following the completion of the transaction, the president directly owned 165,692 shares of the company’s stock, valued at approximately $27,339,180. The trade was a 7.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was 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 $256,014,275. The trade was a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 348,418 shares of company stock valued at $54,196,631. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent research reports. UBS Group reiterated a “buy” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Friday, March 6th. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $191.80.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $167.97 on Thursday. The firm has a market cap of $95.14 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. 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’s 50-day moving average price is $160.79 and its two-hundred day moving average price is $160.40.

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

Intercontinental Exchange Dividend Announcement

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 given a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Intercontinental Exchange’s payout ratio is 36.05%.

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.