London & Capital Asset Management Ltd Takes Position in Intercontinental Exchange Inc. $ICE

London & Capital Asset Management Ltd bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 3rd quarter, Holdings Channel reports. The firm bought 186,338 shares of the financial services provider’s stock, valued at approximately $31,392,000. Intercontinental Exchange makes up approximately 2.2% of London & Capital Asset Management Ltd’s portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. APG Asset Management N.V. grew its position in shares of Intercontinental Exchange by 0.8% in the 3rd quarter. APG Asset Management N.V. now owns 393,636 shares of the financial services provider’s stock valued at $66,320,000 after acquiring an additional 3,100 shares during the period. Aviso Financial Inc. lifted its stake in Intercontinental Exchange by 5.0% in the 3rd quarter. Aviso Financial Inc. now owns 46,348 shares of the financial services provider’s stock valued at $7,809,000 after purchasing an additional 2,210 shares during the last quarter. United Bank grew its holdings in Intercontinental Exchange by 5.8% during the third quarter. United Bank now owns 11,474 shares of the financial services provider’s stock worth $1,933,000 after purchasing an additional 633 shares during the period. Cache Advisors LLC acquired a new position in Intercontinental Exchange during the third quarter worth approximately $609,000. Finally, Huntington National Bank increased its position in Intercontinental Exchange by 10.5% during the third quarter. Huntington National Bank now owns 21,853 shares of the financial services provider’s stock worth $3,682,000 after buying an additional 2,079 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Lynn C. Martin sold 13,456 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the transaction, the insider directly owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. This trade represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the sale, the insider directly owned 14,266 shares in the company, valued at $2,194,396.12. This represents a 44.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 354,492 shares of company stock worth $55,139,102. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $164.05 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. The business has a fifty day simple moving average of $164.47 and a 200 day simple moving average of $163.31. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company has a market capitalization of $93.17 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04.

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 analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a $0.52 dividend. 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 currently 33.28%.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of recent analyst reports. Morgan Stanley set a $183.00 price objective on Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Tuesday, February 10th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $195.40.

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.