Intercontinental Exchange, Inc. (NYSE:ICE) Position Lessened by Geneva Capital Management LLC

Geneva Capital Management LLC reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,275 shares of the financial services provider’s stock after selling 4,361 shares during the quarter. Geneva Capital Management LLC’s holdings in Intercontinental Exchange were worth $25,907,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its stake in shares of Intercontinental Exchange by 23.0% in the first quarter. Empowered Funds LLC now owns 8,709 shares of the financial services provider’s stock valued at $1,197,000 after purchasing an additional 1,631 shares during the period. Atomi Financial Group Inc. increased its position in Intercontinental Exchange by 36.6% in the 1st quarter. Atomi Financial Group Inc. now owns 2,272 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 609 shares during the period. QRG Capital Management Inc. raised its stake in Intercontinental Exchange by 5.9% during the 1st quarter. QRG Capital Management Inc. now owns 15,502 shares of the financial services provider’s stock valued at $2,130,000 after acquiring an additional 867 shares in the last quarter. Entropy Technologies LP acquired a new position in Intercontinental Exchange during the 1st quarter worth $1,324,000. Finally, TD Asset Management Inc grew its stake in shares of Intercontinental Exchange by 4.2% in the first quarter. TD Asset Management Inc now owns 687,891 shares of the financial services provider’s stock worth $94,537,000 after purchasing an additional 27,461 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Down 0.6 %

Shares of NYSE ICE opened at $156.08 on Wednesday. The firm has a market capitalization of $89.62 billion, a PE ratio of 36.98, a PEG ratio of 2.62 and a beta of 1.08. Intercontinental Exchange, Inc. has a one year low of $108.62 and a one year high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $161.43 and a two-hundred day moving average price of $149.49.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.07 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 Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.65%.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on 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 approximately $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred 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 sale, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the transaction, the director now owns 3,958 shares in the company, valued at approximately $629,242.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ICE shares. Barclays reduced their price objective on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Bank of America raised their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Sandler lifted their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Company Profile

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.