Pecaut & CO. Sells 100 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Pecaut & CO. lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,950 shares of the financial services provider’s stock after selling 100 shares during the quarter. Intercontinental Exchange accounts for approximately 1.1% of Pecaut & CO.’s investment portfolio, making the stock its 22nd biggest holding. Pecaut & CO.’s holdings in Intercontinental Exchange were worth $3,269,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ICE. Governors Lane LP lifted its holdings in shares of Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock worth $18,939,000 after acquiring an additional 59,500 shares during the last quarter. Tema Etfs LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $1,107,000. Ilmarinen Mutual Pension Insurance Co lifted its holdings in shares of Intercontinental Exchange by 61.0% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 157,800 shares of the financial services provider’s stock worth $23,514,000 after acquiring an additional 59,800 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth $349,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 18.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock worth $2,099,000 after acquiring an additional 1,879 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target 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. UBS Group boosted their price target 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. Morgan Stanley boosted their price target 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. Finally, Piper Sandler boosted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $194.42.

Insiders Place Their Bets

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer owned 13,220 shares in the company, valued at approximately $2,379,600. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the sale, the senior vice president owned 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 226,119 shares of company stock valued at $40,524,217. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $181.89 on Friday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $183.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50-day moving average is $178.91 and its 200 day moving average is $168.45. The stock has a market capitalization of $104.34 billion, a P/E ratio of 37.66, a P/E/G ratio of 1.99 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. Intercontinental Exchange’s quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

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.