Intercontinental Exchange, Inc. (NYSE:ICE) Major Shareholder Purchases $305,265.60 in Stock

Intercontinental Exchange, Inc. (NYSE:ICE) major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the transaction, the insider now owns 649,934 shares in the company, valued at $565,442.58. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Intercontinental Exchange, Inc also recently made the following trade(s):

• On Monday, March 4th, Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock. The stock was purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83.

Intercontinental Exchange Stock Down 0.1 %

ICE opened at $128.62 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The firm has a market cap of $73.65 billion, a P/E ratio of 30.62, a PEG ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The business’s fifty day simple moving average is $135.42 and its 200 day simple moving average is $125.67.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.40%. Intercontinental Exchange’s dividend payout ratio is 42.86%.

Hedge Funds Weigh In On Intercontinental Exchange

Large investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new position in Intercontinental Exchange during the third quarter worth about $25,000. Scarborough Advisors LLC purchased a new position in Intercontinental Exchange during the fourth quarter worth about $25,000. Annapolis Financial Services LLC lifted its position in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the period. Jones Financial Companies Lllp purchased a new position in Intercontinental Exchange during the third quarter worth about $26,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange during the first quarter worth about $26,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ICE has been the topic of a number of analyst reports. Rosenblatt Securities lifted their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. UBS Group boosted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Citigroup boosted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Piper Sandler boosted their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.08.

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.