Kingdon Capital Management L.L.C. Makes New $8.42 Million Investment in Intercontinental Exchange Inc. $ICE

Kingdon Capital Management L.L.C. bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 50,000 shares of the financial services provider’s stock, valued at approximately $8,424,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 1,169 shares during the period. Empowered Funds LLC grew its stake in shares of Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 289 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Intercontinental Exchange by 5.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 58 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in shares of Intercontinental Exchange by 14.0% during the 2nd quarter. Advisors Capital Management LLC now owns 2,254 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 276 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the sale, the general counsel directly owned 48,181 shares of the company’s stock, valued at $7,805,322. The trade was a 8.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total value of $383,460.00. Following the completion of the transaction, the chief financial officer directly owned 27,679 shares in the company, valued at approximately $4,262,566. The trade was a 8.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 348,418 shares of company stock worth $54,196,631 in the last 90 days. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Up 0.3%

Shares of NYSE ICE opened at $159.12 on Monday. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The stock’s fifty day simple moving average is $164.52 and its two-hundred day simple moving average is $162.11. The stock has a market capitalization of $90.36 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.04. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the firm earned $1.52 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Intercontinental Exchange’s dividend payout ratio (DPR) is 33.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ICE shares. Raymond James Financial reissued a “strong-buy” rating and issued a $211.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, February 6th. 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average 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.