Intercontinental Exchange Inc. $ICE Shares Acquired by Korea Investment CORP

Korea Investment CORP increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 3.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 429,311 shares of the financial services provider’s stock after purchasing an additional 15,196 shares during the quarter. Korea Investment CORP owned 0.07% of Intercontinental Exchange worth $74,056,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Aptus Capital Advisors LLC raised its holdings in shares of Intercontinental Exchange by 10.0% during the first quarter. Aptus Capital Advisors LLC now owns 95,471 shares of the financial services provider’s stock valued at $16,469,000 after acquiring an additional 8,716 shares during the last quarter. Aviso Financial Inc. raised its stake in shares of Intercontinental Exchange by 5.5% in the first quarter. Aviso Financial Inc. now owns 50,122 shares of the financial services provider’s stock valued at $8,646,000 after acquiring an additional 2,631 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Intercontinental Exchange by 65.6% in the first quarter. Brooklyn Investment Group now owns 5,283 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 2,093 shares in the last quarter. Mill Creek Capital Advisors LLC raised its stake in shares of Intercontinental Exchange by 32.2% in the first quarter. Mill Creek Capital Advisors LLC now owns 1,846 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 450 shares in the last quarter. Finally, Freestone Capital Holdings LLC raised its stake in shares of Intercontinental Exchange by 12.1% in the first quarter. Freestone Capital Holdings LLC now owns 3,096 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 335 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of a number of analyst reports. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Barclays raised their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Morgan Stanley raised their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Finally, Piper Sandler raised their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $194.92.

Insider Buying and Selling

In other 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 stock was 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 directly owned 48,480 shares in the company, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares of the company’s stock, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 443,488 shares of company stock valued at $80,323,823 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Down 0.9%

NYSE:ICE opened at $181.12 on Monday. The business’s 50-day moving average is $182.02 and its two-hundred day moving average is $173.60. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The firm has a market capitalization of $103.68 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.1%. Intercontinental Exchange’s payout ratio is currently 36.85%.

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.