Cascade Investment Group Inc. Has $247,000 Stock Holdings in Intercontinental Exchange Inc. $ICE

Cascade Investment Group Inc. trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 15.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,434 shares of the financial services provider’s stock after selling 255 shares during the period. Cascade Investment Group Inc.’s holdings in Intercontinental Exchange were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Tsfg LLC boosted its position in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 103 shares during the period. Rakuten Securities Inc. boosted its position in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 143 shares during the period. REAP Financial Group LLC boosted its position in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 91 shares during the period. McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange during the first quarter worth $30,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Intercontinental Exchange in the first quarter valued at about $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent research reports. Morgan Stanley upped their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods upped 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. UBS Group upped their price objective 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 upped their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Piper Sandler upped their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.92.

Intercontinental Exchange Stock Down 0.2%

Shares of NYSE ICE opened at $178.73 on Wednesday. The company has a market cap of $102.31 billion, a P/E ratio of 34.30, a P/E/G ratio of 2.14 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $182.19 and a two-hundred day simple moving average of $174.34. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

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

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.1%. Intercontinental Exchange’s dividend payout ratio is presently 36.85%.

Insider Activity at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 610 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $179.76, for a total transaction of $109,653.60. Following the completion of the sale, the director owned 3,519 shares in the company, valued at approximately $632,575.44. This represents a 14.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 1,570 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total value of $280,166.50. Following the sale, the chief financial officer owned 22,106 shares of the company’s stock, valued at approximately $3,944,815.70. This trade represents a 6.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 444,719 shares of company stock valued at $80,546,996 over the last ninety days. Insiders own 1.00% of the company’s stock.

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.