LGT Capital Partners LTD. Sells 15,740 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

LGT Capital Partners LTD. lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,770 shares of the financial services provider’s stock after selling 15,740 shares during the quarter. LGT Capital Partners LTD.’s holdings in Intercontinental Exchange were worth $19,877,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ICE. Jefferies Financial Group Inc. grew its stake in shares of Intercontinental Exchange by 3.8% in the 2nd quarter. Jefferies Financial Group Inc. now owns 2,432 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 88 shares during the period. Vinva Investment Management Ltd increased its stake in shares of Intercontinental Exchange by 0.6% in the third quarter. Vinva Investment Management Ltd now owns 16,736 shares of the financial services provider’s stock valued at $1,855,000 after buying an additional 93 shares in the last quarter. Timber Creek Capital Management LLC increased its position in Intercontinental Exchange by 0.3% in the 4th quarter. Timber Creek Capital Management LLC now owns 34,466 shares of the financial services provider’s stock valued at $4,426,000 after acquiring an additional 94 shares in the last quarter. Vestcor Inc grew its stake in shares of Intercontinental Exchange by 0.5% during the fourth quarter. Vestcor Inc now owns 17,924 shares of the financial services provider’s stock valued at $1,839,000 after purchasing an additional 94 shares during the last quarter. Finally, HBK Sorce Advisory LLC lifted its holdings in Intercontinental Exchange by 4.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 2,116 shares of the financial services provider’s stock worth $233,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $137.37 on Friday. Intercontinental Exchange, Inc. has a fifty-two week low of $99.84 and a fifty-two week high of $140.43. The company’s 50-day moving average is $134.20 and its 200 day moving average is $121.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $78.66 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.91 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.31%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is 42.86%.

Analyst Ratings Changes

ICE has been the topic of a number of research reports. Barclays upped their target price on shares of Intercontinental Exchange from $148.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $133.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. UBS Group raised their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, Rosenblatt Securities lifted their price objective on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $145.83.

Insider Transactions at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now owns 7,476,345 shares in the company, valued at $6,504,420.15. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares in the company, valued at approximately $1,640,296. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 155,253 shares of company stock valued at $20,486,424. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.