Jackson Square Capital LLC Decreases Stake in Intercontinental Exchange Inc. $ICE

Jackson Square Capital LLC reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 63.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,127 shares of the financial services provider’s stock after selling 3,726 shares during the period. Jackson Square Capital LLC’s holdings in Intercontinental Exchange were worth $344,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. West Paces Advisors Inc. lifted its position in shares of Intercontinental Exchange by 4.8% during the fourth quarter. West Paces Advisors Inc. now owns 1,473 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 68 shares during the last quarter. Capital Investment Advisory Services LLC lifted its position in shares of Intercontinental Exchange by 3.4% during the fourth quarter. Capital Investment Advisory Services LLC now owns 2,084 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 69 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of Intercontinental Exchange by 16.2% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 3,628 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 505 shares during the last quarter. Greenleaf Trust lifted its position in shares of Intercontinental Exchange by 2.0% during the fourth quarter. Greenleaf Trust now owns 15,133 shares of the financial services provider’s stock worth $2,451,000 after purchasing an additional 302 shares during the last quarter. Finally, Clayton Financial Group LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth about $138,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ICE. Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $191.80.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $167.97 on Thursday. 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 firm’s 50-day moving average price is $160.79 and its two-hundred day moving average price is $160.40. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The stock has a market capitalization of $95.14 billion, a P/E ratio of 29.11, a P/E/G ratio of 1.75 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last issued its 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 net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the company posted $1.52 earnings per share. Intercontinental Exchange’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 36.05%.

Insider Transactions at Intercontinental Exchange

In other news, President Benjamin Jackson sold 12,861 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the sale, the president owned 165,692 shares of the company’s stock, valued at approximately $27,339,180. The trade was a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total value of $1,738,627.46. Following the sale, the insider directly owned 14,266 shares in the company, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 348,418 shares of company stock valued at $54,196,631 over the last ninety days. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Company 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.