Intercontinental Exchange Inc. $ICE Stock Position Raised by Prana Capital Management LP

Prana Capital Management LP raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 17.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 564,611 shares of the financial services provider’s stock after purchasing an additional 85,844 shares during the period. Intercontinental Exchange comprises approximately 3.2% of Prana Capital Management LP’s holdings, making the stock its 8th largest holding. Prana Capital Management LP owned about 0.10% of Intercontinental Exchange worth $95,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in Intercontinental Exchange in the second quarter valued at $1,542,780,000. Wellington Management Group LLP grew its holdings in Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after acquiring an additional 4,067,922 shares in the last quarter. Sands Capital Management LLC grew its holdings in Intercontinental Exchange by 97.3% during the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. Mawer Investment Management Ltd. increased its position in shares of Intercontinental Exchange by 179.1% in the 3rd quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock worth $416,544,000 after purchasing an additional 1,586,620 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its position in shares of Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock worth $257,163,000 after purchasing an additional 1,521,467 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $160.77 on Wednesday. The company has a market cap of $91.30 billion, a PE ratio of 27.86, a P/E/G ratio of 1.74 and a beta of 1.04. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The firm has a 50-day simple moving average of $164.33 and a 200 day simple moving average of $161.89. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the company posted $1.52 earnings per share. Intercontinental Exchange’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio (DPR) is 36.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, February 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $194.73.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total value of $23,250,000.00. Following the sale, the chief executive officer directly owned 1,651,705 shares in the company, valued at approximately $256,014,275. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the transaction, the insider directly owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 348,418 shares of company stock worth $54,196,631. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.