Nicolet Advisory Services LLC Trims Stock Position in Intercontinental Exchange Inc. (NYSE:ICE)

Nicolet Advisory Services LLC cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 6.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,923 shares of the financial services provider’s stock after selling 483 shares during the period. Nicolet Advisory Services LLC’s holdings in Intercontinental Exchange were worth $1,194,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ICE. Brighton Jones LLC lifted its stake in shares of Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares during the last quarter. Summit Financial LLC increased its position in shares of Intercontinental Exchange by 14.7% during the 4th quarter. Summit Financial LLC now owns 5,828 shares of the financial services provider’s stock worth $868,000 after purchasing an additional 747 shares during the last quarter. Meeder Advisory Services Inc. raised its holdings in Intercontinental Exchange by 0.8% in the 4th quarter. Meeder Advisory Services Inc. now owns 10,254 shares of the financial services provider’s stock valued at $1,528,000 after buying an additional 82 shares during the period. Bryce Point Capital LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $552,000. Finally, Cinctive Capital Management LP boosted its stake in Intercontinental Exchange by 47.8% during the fourth quarter. Cinctive Capital Management LP now owns 13,078 shares of the financial services provider’s stock worth $1,949,000 after buying an additional 4,232 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the transaction, the general counsel owned 48,480 shares in the company, valued at $8,683,737.60. The trade was a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the sale, the chief executive officer directly owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,913 shares of company stock valued at $40,671,107 over the last quarter. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Down 0.5%

Shares of NYSE ICE opened at $184.78 on Friday. The stock has a market cap of $105.99 billion, a P/E ratio of 38.26, a PEG ratio of 2.04 and a beta of 1.11. The business’s fifty day simple moving average is $180.54 and its 200-day simple moving average is $170.94. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $187.38. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. Intercontinental Exchange’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 EPS. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.0%. Intercontinental Exchange’s dividend payout ratio (DPR) is 39.75%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ICE shares. Barclays boosted their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. UBS Group lifted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Morgan Stanley upped their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Piper Sandler raised their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.42.

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.