US Bancorp DE Acquires 9,500 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

US Bancorp DE increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,215 shares of the financial services provider’s stock after purchasing an additional 9,500 shares during the period. US Bancorp DE’s holdings in Intercontinental Exchange were worth $25,737,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ICE. New Millennium Group LLC bought a new position in Intercontinental Exchange in the second quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new position in Intercontinental Exchange during the 2nd quarter worth about $25,000. Fairscale Capital LLC bought a new position in Intercontinental Exchange during the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC lifted its holdings in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange during the third quarter worth about $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 0.8 %

Shares of ICE opened at $154.64 on Friday. The firm’s 50-day simple moving average is $161.98 and its 200 day simple moving average is $148.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $88.79 billion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52 week low of $104.91 and a 52 week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 earnings per share. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6.13 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. Intercontinental Exchange’s payout ratio is presently 44.55%.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. Piper Sandler boosted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America increased their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, Citigroup increased their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $173.93.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the transaction, the director now owns 3,958 shares in the company, valued at $629,242.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,489 shares of company stock worth $1,202,259. Corporate insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

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.