Geneva Capital Management LLC Reduces Stock Holdings in Intercontinental Exchange Inc. $ICE

Geneva Capital Management LLC decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.6% during the third quarter, HoldingsChannel reports. The firm owned 137,680 shares of the financial services provider’s stock after selling 6,643 shares during the quarter. Geneva Capital Management LLC’s holdings in Intercontinental Exchange were worth $23,196,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ICE. Knuff & Co LLC raised its position in shares of Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Private Wealth Management Group LLC increased its stake in shares of Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 66 shares in the last quarter. Caitlin John LLC purchased a new position in shares of Intercontinental Exchange during the third quarter valued at approximately $32,000. Capital A Wealth Management LLC increased its position in Intercontinental Exchange by 26,000.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after buying an additional 260 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in Intercontinental Exchange by 128.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after buying an additional 153 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the transaction, the insider directly owned 14,266 shares in the company, valued at $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 15,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was 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 approximately $10,055,992.38. This represents a 19.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 350,018 shares of company stock worth $54,457,751 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $156.96 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day simple moving average of $164.61 and a two-hundred day simple moving average of $162.50. The firm has a market capitalization of $89.13 billion, a PE ratio of 27.20, a P/E/G ratio of 1.73 and a beta of 1.03. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data 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 the consensus estimate of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 earnings per share. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS 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 given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 36.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays set a $193.00 target price on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, Piper Sandler restated an “overweight” rating and set a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $194.73.

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.