Sapient Capital LLC Invests $12.86 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Sapient Capital LLC purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 100,103 shares of the financial services provider’s stock, valued at approximately $12,856,000.

Several other institutional investors and hedge funds have also modified their holdings of ICE. Vinva Investment Management Ltd lifted its position in shares of Intercontinental Exchange by 0.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 16,736 shares of the financial services provider’s stock worth $1,855,000 after purchasing an additional 93 shares during the period. Timber Creek Capital Management LLC raised its stake in shares of Intercontinental Exchange by 0.3% during the 4th quarter. Timber Creek Capital Management LLC now owns 34,466 shares of the financial services provider’s stock worth $4,426,000 after acquiring an additional 94 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Intercontinental Exchange by 4.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 2,116 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 97 shares in the last quarter. West Coast Financial LLC raised its stake in shares of Intercontinental Exchange by 4.6% during the 4th quarter. West Coast Financial LLC now owns 2,248 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 98 shares in the last quarter. Finally, Savant Capital LLC raised its stake in shares of Intercontinental Exchange by 1.5% during the 3rd quarter. Savant Capital LLC now owns 6,946 shares of the financial services provider’s stock worth $764,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded up $3.96 during trading hours on Friday, hitting $130.50. The company’s stock had a trading volume of 3,991,238 shares, compared to its average volume of 2,404,087. The company has a 50 day moving average of $135.01 and a 200 day moving average of $125.81. The stock has a market cap of $74.73 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 12-month low of $103.81 and a 12-month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent analyst reports. 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. 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. Barclays reduced their price objective on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $147.92.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were purchased at an average cost of $0.87 per share, with a total value of $305,265.60. Following the completion of the acquisition, the insider now owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,832 shares of company stock valued at $21,499,127. Corporate insiders own 1.10% of the company’s stock.

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.