Alliancebernstein L.P. grew its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,975,797 shares of the financial services provider’s stock after buying an additional 5,420 shares during the quarter. Alliancebernstein L.P.’s holdings in Intercontinental Exchange were worth $227,790,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of ICE. US Bancorp DE boosted its holdings in Intercontinental Exchange by 3.7% in the fourth quarter. US Bancorp DE now owns 107,480 shares of the financial services provider’s stock valued at $12,392,000 after purchasing an additional 3,799 shares during the period. Meitav Dash Investments Ltd. boosted its holdings in Intercontinental Exchange by 0.9% in the fourth quarter. Meitav Dash Investments Ltd. now owns 186,569 shares of the financial services provider’s stock valued at $21,510,000 after purchasing an additional 1,620 shares during the period. Trust Co. of Vermont boosted its holdings in Intercontinental Exchange by 8.0% in the fourth quarter. Trust Co. of Vermont now owns 33,671 shares of the financial services provider’s stock valued at $3,882,000 after purchasing an additional 2,490 shares during the period. Eudaimonia Partners LLC lifted its holdings in Intercontinental Exchange by 81.4% during the 3rd quarter. Eudaimonia Partners LLC now owns 1,128 shares of the financial services provider’s stock worth $30,000 after buying an additional 506 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in Intercontinental Exchange by 2.0% during the 4th quarter. DNB Asset Management AS now owns 188,698 shares of the financial services provider’s stock worth $21,755,000 after buying an additional 3,727 shares during the last quarter. 87.42% of the stock is owned by institutional investors and hedge funds.
In other news, General Counsel Andrew J. Surdykowski sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 16th. The stock was sold at an average price of $112.00, for a total transaction of $112,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David S. Goone sold 17,281 shares of the business’s stock in a transaction that occurred on Monday, November 30th. The stock was sold at an average price of $105.05, for a total value of $1,815,369.05. Following the sale, the insider now directly owns 186,243 shares in the company, valued at approximately $19,564,827.15. The disclosure for this sale can be found here. Insiders have sold a total of 123,058 shares of company stock worth $13,515,331 in the last three months. Corporate insiders own 1.50% of the company’s stock.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 4th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.05. Intercontinental Exchange had a return on equity of 13.63% and a net margin of 26.19%. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. Equities analysts forecast that Intercontinental Exchange, Inc. will post 4.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Wednesday, March 17th will be paid a dividend of $0.33 per share. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, March 16th. This represents a $1.32 annualized dividend and a dividend yield of 1.18%. Intercontinental Exchange’s payout ratio is 30.93%.
A number of brokerages have issued reports on ICE. Piper Sandler lifted their price target on Intercontinental Exchange from $117.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, January 7th. Barclays lifted their price target on Intercontinental Exchange from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, January 12th. Compass Point lifted their price target on Intercontinental Exchange from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, December 22nd. Zacks Investment Research cut Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $118.00 target price on the stock. in a research report on Thursday, February 11th. Finally, Rosenblatt Securities lifted their target price on Intercontinental Exchange from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, January 7th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $119.00.
About Intercontinental Exchange
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.
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