Yousif Capital Management LLC Has $10.92 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Yousif Capital Management LLC cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 85,013 shares of the financial services provider’s stock after selling 1,619 shares during the period. Yousif Capital Management LLC’s holdings in Intercontinental Exchange were worth $10,918,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management increased its holdings in shares of Intercontinental Exchange by 52.8% during the 3rd quarter. Ritholtz Wealth Management now owns 4,722 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 1,631 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Intercontinental Exchange by 17.9% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,941 shares of the financial services provider’s stock worth $324,000 after buying an additional 447 shares during the last quarter. Integrated Investment Consultants LLC raised its position in Intercontinental Exchange by 28.7% in the third quarter. Integrated Investment Consultants LLC now owns 2,635 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 588 shares during the last quarter. GHP Investment Advisors Inc. raised its position in Intercontinental Exchange by 0.4% in the third quarter. GHP Investment Advisors Inc. now owns 30,626 shares of the financial services provider’s stock valued at $3,382,000 after purchasing an additional 108 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Intercontinental Exchange in the third quarter valued at $203,000. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,164,763.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,164,763.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The shares were 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 owns 7,476,345 shares in the company, valued at $6,504,420.15. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 157,491 shares of company stock worth $21,454,204. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of several recent research reports. Morgan Stanley lifted their price target on 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 objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Raymond James boosted their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Citigroup boosted their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, UBS Group boosted their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.08.

Intercontinental Exchange Stock Up 0.2 %

NYSE ICE traded up $0.24 on Wednesday, hitting $132.57. The stock had a trading volume of 2,398,423 shares, compared to its average volume of 2,376,967. The business’s fifty day moving average price is $136.16 and its 200 day moving average price is $124.95. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The stock has a market cap of $75.91 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm 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 business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is 42.86%.

About Intercontinental Exchange

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.