Fiera Capital Corp Grows Stake in Intercontinental Exchange Inc. $ICE

Fiera Capital Corp increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 19.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,234 shares of the financial services provider’s stock after purchasing an additional 10,170 shares during the period. Fiera Capital Corp’s holdings in Intercontinental Exchange were worth $10,317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter valued at approximately $29,000. Private Wealth Management Group LLC increased its position in shares of Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Knuff & Co LLC increased its position in shares of Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in Intercontinental Exchange by 128.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 153 shares during the last quarter. Finally, Capital A Wealth Management LLC lifted its holdings in Intercontinental Exchange by 26,000.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 260 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. JPMorgan Chase & Co. dropped their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down previously from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Buy” and an average price target of $195.40.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $154.00 on Friday. The firm has a 50 day simple moving average of $164.58 and a 200-day simple moving average of $164.54. The stock has a market cap of $87.45 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.52 EPS. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 33.28%.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 4,722 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $169.19, for a total value of $798,915.18. Following the sale, the director directly owned 9,747 shares in the company, valued at approximately $1,649,094.93. The trade was a 32.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 15,213 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,055,992.38. The trade was a 19.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 341,036 shares of company stock worth $53,068,762. Insiders own 1.00% of the company’s stock.

More Intercontinental Exchange News

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Kraken integration — Kraken has integrated with ICE Chat to expand institutional OTC crypto access, which advances ICE’s push into crypto infrastructure and could boost trading/data volumes over time. Kraken Integrates with ICE Chat
• Positive Sentiment: Fundamentals & analyst support — ICE recently reported an EPS beat and revenue above expectations, continues to pay a quarterly dividend, and retains a mostly positive analyst consensus/price targets, providing fundamental support under the stock. MarketBeat Coverage
• Neutral Sentiment: Pune office lease — ICE’s India arm leased space for a global capability center in Pune (commercial real estate move that supports operations expansion but is not material to near-term earnings). ICE leases Pune GCC space
• Neutral Sentiment: Small institutional flows — Recent filings show many small, new institutional stakes; institutional ownership remains high (~89%), but recent buys/sells cited are immaterial at scale. Institutional activity
• Negative Sentiment: Large CEO selling — CEO Jeffrey C. Sprecher sold significant blocks of shares (reported filings show ~150,000 and ~129,937-share dispositions around Feb 18). Large CEO sales are the most likely proximate cause of today’s negative sentiment. CEO SEC filing
• Negative Sentiment: CTO sale — CTO Mayur Kapani sold 15,213 shares (~$2.36M) on Feb 18, a ~19% reduction in his holding. CTO SEC filing
• Negative Sentiment: Other executive selling — Additional insider sales reported: President Benjamin Jackson (3,865 sh), CFO Warren Gardiner (2,490 sh), and insider Christopher Scott Edmonds (11,303 sh). These clustered sales amplify negative investor perception even though executives retain sizable holdings. President SEC filing CFO SEC filing Insider Edmonds SEC filing

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.