Virtu Financial LLC Purchases 602 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Virtu Financial LLC boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,267 shares of the financial services provider’s stock after acquiring an additional 602 shares during the quarter. Virtu Financial LLC’s holdings in Intercontinental Exchange were worth $2,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ICE. Royal Bank of Canada increased its stake in Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after acquiring an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock valued at $677,465,000 after acquiring an additional 3,678,384 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Intercontinental Exchange by 24,394.4% during the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock valued at $3,906,700,000 after acquiring an additional 2,255,507 shares during the period. Bank of New York Mellon Corp boosted its holdings in Intercontinental Exchange by 50.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock valued at $1,023,534,000 after acquiring an additional 1,993,084 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Intercontinental Exchange by 26.6% during the 4th quarter. Janus Henderson Group PLC now owns 5,721,604 shares of the financial services provider’s stock valued at $852,578,000 after acquiring an additional 1,200,965 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.8%

NYSE ICE opened at $186.53 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $106.77 billion, a PE ratio of 35.80, a PEG ratio of 2.21 and a beta of 1.11. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The business’s 50-day moving average is $181.66 and its 200 day moving average is $172.65.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 1.0%. Intercontinental Exchange’s payout ratio is 36.85%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Piper Sandler increased their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Barclays increased their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Morgan Stanley increased their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Finally, UBS Group increased their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.92.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the sale, the senior vice president directly owned 27,313 shares of the company’s stock, valued at approximately $4,847,511.24. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel directly owned 48,480 shares in the company, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,913 shares of company stock worth $40,671,107. Insiders own 1.00% of the company’s stock.

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.