Intercontinental Exchange Inc. $ICE Shares Sold by D L Carlson Investment Group Inc.

D L Carlson Investment Group Inc. trimmed its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,755 shares of the financial services provider’s stock after selling 472 shares during the period. D L Carlson Investment Group Inc.’s holdings in Intercontinental Exchange were worth $2,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ICE. REAP Financial Group LLC lifted its position in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 91 shares during the period. Tsfg LLC lifted its position in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares during the period. Menard Financial Group LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $29,000. Rakuten Securities Inc. lifted its position in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $30,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 0.2%

ICE stock opened at $178.73 on Wednesday. The stock has a market capitalization of $102.31 billion, a P/E ratio of 34.30, a PEG ratio of 2.14 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company has a 50 day moving average price of $182.19 and a two-hundred day moving average price of $174.34.

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

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid 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%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ICE shares. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Barclays raised their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.92.

Insider Activity at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 610 shares of Intercontinental Exchange stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $179.76, for a total transaction of $109,653.60. Following the transaction, the director owned 3,519 shares in the company, valued at approximately $632,575.44. The trade was a 14.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares in the company, valued at $4,847,511.24. The trade was a 5.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 444,719 shares of company stock worth $80,546,996. 1.00% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.