Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.4% in the fourth quarter, Holdings Channel reports. The fund owned 218,370 shares of the financial services provider’s stock after buying an additional 2,948 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Intercontinental Exchange were worth $28,045,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after acquiring an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Intercontinental Exchange by 7.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock valued at $13,956,000 after acquiring an additional 8,320 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Intercontinental Exchange by 9.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock valued at $158,738,000 after acquiring an additional 105,042 shares during the last quarter. First County Bank CT raised its holdings in Intercontinental Exchange by 2.7% in the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 100 shares during the last quarter. Finally, CIC Wealth LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $221,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. UBS Group raised their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Raymond James raised their price target on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. Citigroup raised their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Piper Sandler raised their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $147.08.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the sale, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The disclosure for this sale can be found here. Insiders sold 157,491 shares of company stock valued at $21,454,204 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $129.89 on Wednesday. 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 stock has a market capitalization of $74.37 billion, a P/E ratio of 30.93, a PEG ratio of 2.07 and a beta of 1.02. The company has a 50 day moving average price of $136.37 and a 200 day moving average price of $124.17. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the company posted $1.25 EPS. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

Intercontinental Exchange Company 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.