Russell Investments Group Ltd. Grows Position in Intercontinental Exchange Inc. $ICE

Russell Investments Group Ltd. raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 698,696 shares of the financial services provider’s stock after purchasing an additional 39,631 shares during the period. Russell Investments Group Ltd.’s holdings in Intercontinental Exchange were worth $117,692,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ICE. Private Wealth Management Group LLC lifted its position in shares of Intercontinental Exchange by 59.5% in the 3rd 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 during the period. Knuff & Co LLC increased its holdings in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares during the period. Caitlin John LLC purchased a new position in Intercontinental Exchange during the third quarter valued at approximately $32,000. Cornerstone Planning Group LLC raised its stake in Intercontinental Exchange by 128.6% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $46,000 after buying an additional 153 shares in the last quarter. Finally, Capital A Wealth Management LLC raised its stake in Intercontinental Exchange by 26,000.0% in the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after buying an additional 260 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ICE. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Raymond James Financial restated a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Barclays set a $193.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. Finally, TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $194.73.

Insider Buying and Selling

In other news, insider Lynn C. Martin sold 13,456 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the transaction, the insider owned 54,319 shares in the company, valued at $8,357,521.34. This represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Benjamin Jackson sold 3,865 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.73, for a total transaction of $594,166.45. Following the transaction, the president owned 165,304 shares in the company, valued at approximately $25,412,183.92. This trade represents a 2.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 350,018 shares of company stock valued at $54,457,751 in the last 90 days. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $165.87 on Tuesday. The company has a 50 day moving average of $164.77 and a two-hundred day moving average of $162.68. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a market cap of $94.19 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the firm posted $1.52 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 33.28%.

Intercontinental Exchange Profile

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.