Intercontinental Exchange, Inc. (NYSE:ICE) Stake Lessened by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 21.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,427 shares of the financial services provider’s stock after selling 1,502 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Intercontinental Exchange were worth $697,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of 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 worth $7,311,000 after purchasing an additional 12,208 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Intercontinental Exchange by 7.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock valued at $13,956,000 after buying an additional 8,320 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Intercontinental Exchange by 9.3% during 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 boosted its stake in shares of Intercontinental Exchange by 2.7% during the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 100 shares in the last quarter. Finally, CIC Wealth LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth $221,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now owns 18,326 shares in the company, valued at approximately $2,544,198.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin Jackson sold 27,970 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total value of $3,768,677.80. Following the sale, the president now directly owns 138,487 shares in the company, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,491 shares of company stock worth $21,454,204. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 0.6 %

Shares of ICE stock opened at $130.74 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $136.42 and its two-hundred day moving average is $124.22. The company has a market cap of $74.86 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued 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. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted $1.25 earnings per share. The firm’s revenue was up 24.5% compared to the same quarter last year. Equities analysts predict that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent analyst reports. UBS Group increased their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Rosenblatt Securities raised their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.08.

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.