Capital World Investors Grows Stake in Intercontinental Exchange Inc. $ICE

Capital World Investors lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,028,964 shares of the financial services provider’s stock after acquiring an additional 928,047 shares during the period. Capital World Investors owned approximately 1.23% of Intercontinental Exchange worth $1,184,238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ICE. Norges Bank bought a new position in shares of Intercontinental Exchange during the second quarter valued at approximately $1,542,780,000. Sands Capital Management LLC lifted its holdings in Intercontinental Exchange by 97.3% during the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after buying an additional 2,620,310 shares during the period. Mawer Investment Management Ltd. lifted its holdings in Intercontinental Exchange by 179.1% during the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock worth $416,544,000 after buying an additional 1,586,620 shares during the period. Waverton Investment Management Ltd boosted its position in Intercontinental Exchange by 28,886.8% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after acquiring an additional 1,521,467 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Intercontinental Exchange by 55.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,781,542 shares of the financial services provider’s stock valued at $510,330,000 after acquiring an additional 994,316 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $160.03 on Wednesday. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The company has a fifty day simple moving average of $164.71 and a two-hundred day simple moving average of $162.53. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a market cap of $90.88 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03.

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

Intercontinental Exchange Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Barclays set a $193.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 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 note on Wednesday, January 14th. Finally, Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $194.73.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the sale, the insider owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. The trade was a 44.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the transaction, the chief financial officer owned 27,679 shares in the company, valued at $4,262,566. The trade was a 8.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 350,018 shares of company stock worth $54,457,751. 1.00% of the stock is currently owned by insiders.

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.