Daiwa Securities Group Inc. Buys 2,373 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Daiwa Securities Group Inc. lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,272 shares of the financial services provider’s stock after buying an additional 2,373 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Intercontinental Exchange were worth $10,566,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. RB Capital Management LLC grew its position in shares of Intercontinental Exchange by 3.2% during the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 126 shares in the last quarter. United Bank grew its position in shares of Intercontinental Exchange by 2.7% during the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after purchasing an additional 422 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of Intercontinental Exchange by 13.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 220 shares in the last quarter. Sei Investments Co. grew its position in shares of Intercontinental Exchange by 31.5% during the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock worth $27,077,000 after purchasing an additional 49,081 shares in the last quarter. Finally, Prudential PLC purchased a new stake in shares of Intercontinental Exchange during the first quarter worth about $1,679,000. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Elizabeth Kathryn King sold 3,783 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 value of $499,469.49. Following the transaction, the insider now directly owns 17,242 shares in the company, valued at approximately $2,276,461.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Elizabeth Kathryn King sold 3,783 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 value of $499,469.49. Following the transaction, the insider now directly owns 17,242 shares in the company, valued at approximately $2,276,461.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas Foley sold 7,070 shares of Intercontinental Exchange stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the completion of the transaction, the senior vice president now owns 18,383 shares in the company, valued at $2,501,742.47. The disclosure for this sale can be found here. Insiders sold a total of 157,491 shares of company stock valued at $21,454,204 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $130.59 on Thursday. The stock has a market cap of $74.78 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. 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 50 day moving average price of $136.42 and a 200-day moving average price of $124.22. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS 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 return on equity of 12.91% and a net margin of 23.91%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. Equities analysts expect that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. Intercontinental Exchange’s payout ratio is 42.86%.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. Citigroup increased their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Morgan Stanley raised their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Rosenblatt Securities raised their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, Piper Sandler raised their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $147.08.

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.