Raiffeisen Bank International AG Grows Stock Position in Intercontinental Exchange Inc. $ICE

Raiffeisen Bank International AG grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 61.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,490 shares of the financial services provider’s stock after acquiring an additional 3,600 shares during the quarter. Raiffeisen Bank International AG’s holdings in Intercontinental Exchange were worth $1,594,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ICE. Westside Investment Management Inc. purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $29,000. Private Wealth Management Group LLC increased its stake in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Knuff & Co LLC raised its holdings in shares of Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Intercontinental Exchange by 128.6% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $46,000 after buying an additional 153 shares during the period. Finally, Capital A Wealth Management LLC lifted its stake in shares of Intercontinental Exchange by 26,000.0% during the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ICE. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Morgan Stanley set a $183.00 price objective on Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. Finally, UBS Group reiterated a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $195.40.

Key Intercontinental Exchange News

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Kraken integration — Kraken has integrated with ICE Chat to expand institutional OTC crypto access, which advances ICE’s push into crypto infrastructure and could boost trading/data volumes over time. Kraken Integrates with ICE Chat
• Positive Sentiment: Fundamentals & analyst support — ICE recently reported an EPS beat and revenue above expectations, continues to pay a quarterly dividend, and retains a mostly positive analyst consensus/price targets, providing fundamental support under the stock. MarketBeat Coverage
• Neutral Sentiment: Pune office lease — ICE’s India arm leased space for a global capability center in Pune (commercial real estate move that supports operations expansion but is not material to near-term earnings). ICE leases Pune GCC space
• Neutral Sentiment: Small institutional flows — Recent filings show many small, new institutional stakes; institutional ownership remains high (~89%), but recent buys/sells cited are immaterial at scale. Institutional activity
• Negative Sentiment: Large CEO selling — CEO Jeffrey C. Sprecher sold significant blocks of shares (reported filings show ~150,000 and ~129,937-share dispositions around Feb 18). Large CEO sales are the most likely proximate cause of today’s negative sentiment. CEO SEC filing
• Negative Sentiment: CTO sale — CTO Mayur Kapani sold 15,213 shares (~$2.36M) on Feb 18, a ~19% reduction in his holding. CTO SEC filing
• Negative Sentiment: Other executive selling — Additional insider sales reported: President Benjamin Jackson (3,865 sh), CFO Warren Gardiner (2,490 sh), and insider Christopher Scott Edmonds (11,303 sh). These clustered sales amplify negative investor perception even though executives retain sizable holdings. President SEC filing CFO SEC filing Insider Edmonds SEC filing

Intercontinental Exchange Stock Performance

NYSE ICE opened at $154.00 on Friday. The firm has a market capitalization of $87.45 billion, a P/E ratio of 26.69, a PEG ratio of 1.60 and a beta of 1.02. The stock has a 50-day simple moving average of $164.58 and a two-hundred day simple moving average of $164.38. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35.

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

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 33.28%.

Insider Activity

In related news, CTO Mayur Kapani sold 15,213 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total value of $2,358,319.26. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,055,992.38. The trade was a 19.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of the firm’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 sale, the insider owned 14,266 shares in the company, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 341,036 shares of company stock worth $53,068,762. 1.00% of the stock is currently owned by corporate insiders.

About Intercontinental Exchange

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.