XTX Topco Ltd Has $8.10 Million Position in Intercontinental Exchange Inc. (NYSE:ICE)

XTX Topco Ltd raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 77.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,926 shares of the financial services provider’s stock after acquiring an additional 20,510 shares during the quarter. Intercontinental Exchange makes up about 0.4% of XTX Topco Ltd’s investment portfolio, making the stock its 11th largest holding. XTX Topco Ltd’s holdings in Intercontinental Exchange were worth $8,095,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Governors Lane LP lifted its stake 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 buying an additional 59,500 shares during the last quarter. Tema Etfs LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $1,107,000. Ilmarinen Mutual Pension Insurance Co lifted its stake 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 buying an additional 59,800 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in Intercontinental Exchange during the first quarter worth about $349,000. Finally, Sequoia Financial Advisors LLC increased its position in Intercontinental Exchange by 18.3% during the first 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 period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of a number of recent research reports. Bank of America lowered their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. UBS Group raised their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Barclays raised their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Morgan Stanley raised 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 report on Monday, May 5th. Finally, Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $194.42.

Insider Buying and Selling at Intercontinental Exchange

In related news, 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 transaction of $689,253.76. Following the sale, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owned 27,313 shares in the company, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,119 shares of company stock worth $40,524,217 over the last quarter. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Down 1.0%

ICE opened at $182.63 on Tuesday. The company’s 50 day moving average is $179.92 and its 200-day moving average is $170.45. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $185.29. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The company has a market cap of $104.76 billion, a P/E ratio of 37.81, a PEG ratio of 2.02 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.44 billion. During the same period last year, the company posted $1.48 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.05%. Intercontinental Exchange’s dividend payout ratio is presently 39.75%.

Intercontinental Exchange Company 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.