Intrust Bank NA Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Intrust Bank NA grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,196 shares of the financial services provider’s stock after buying an additional 288 shares during the quarter. Intrust Bank NA’s holdings in Intercontinental Exchange were worth $924,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp purchased a new position in Intercontinental Exchange in the third quarter worth $26,000. OFI Invest Asset Management acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at about $25,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.6 %

ICE traded down $0.83 during trading on Tuesday, reaching $129.95. 146,104 shares of the stock traded hands, compared to its average volume of 2,348,817. The stock has a market cap of $74.41 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50-day simple moving average is $135.74 and its two-hundred day simple moving average is $125.52.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results 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 company 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 business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 5.97 EPS for the current year.

Intercontinental Exchange Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.39%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s payout ratio is currently 42.86%.

Insider Activity at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the company’s 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 transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Elizabeth Kathryn King sold 3,783 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold 157,491 shares of company stock worth $21,454,204 over the last three months. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of a number of recent research reports. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Bank of America lowered their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Barclays raised their price target on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Piper Sandler raised their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Finally, UBS Group lifted 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. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.08.

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.