HTLF Bank Makes New $403,000 Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

HTLF Bank purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,136 shares of the financial services provider’s stock, valued at approximately $403,000.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Jones Financial Companies Lllp purchased a new position in Intercontinental Exchange in the third quarter worth approximately $26,000. OFI Invest Asset Management acquired a new position in shares of Intercontinental Exchange during the third quarter worth $25,000. BKM Wealth Management LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at $31,000. Finally, Rakuten Securities Inc. acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $39,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the transaction, the chief financial officer now directly owns 18,326 shares in the company, valued at approximately $2,544,198.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judith A. Sprieser sold 2,238 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $137.36, for a total value of $307,411.68. Following the sale, the director now owns 29,347 shares in the company, valued at approximately $4,031,103.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,491 shares of company stock valued at $21,454,204. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ICE. Morgan Stanley boosted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. UBS Group boosted their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Piper Sandler upped their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Finally, Rosenblatt Securities boosted their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.08.

Intercontinental Exchange Stock Up 0.2 %

Shares of NYSE ICE opened at $131.20 on Friday. 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 firm has a 50-day moving average price of $136.27 and a 200 day moving average price of $124.42. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The stock has a market capitalization of $75.13 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last released 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. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The company’s revenue was up 24.5% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. Intercontinental Exchange’s payout ratio is currently 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.