Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by Birch Capital Management LLC

Birch Capital Management LLC boosted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,059 shares of the financial services provider’s stock after buying an additional 792 shares during the quarter. Intercontinental Exchange makes up 2.3% of Birch Capital Management LLC’s holdings, making the stock its 14th biggest position. Birch Capital Management LLC’s holdings in Intercontinental Exchange were worth $3,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vestcor Inc grew its stake in Intercontinental Exchange by 0.5% in the 4th quarter. Vestcor Inc now owns 17,924 shares of the financial services provider’s stock valued at $1,839,000 after acquiring an additional 94 shares during the last quarter. Headinvest LLC increased its stake in shares of Intercontinental Exchange by 0.8% during the 1st quarter. Headinvest LLC now owns 12,282 shares of the financial services provider’s stock worth $1,281,000 after purchasing an additional 95 shares in the last quarter. Capital Impact Advisors LLC raised its position in shares of Intercontinental Exchange by 7.0% during the 4th quarter. Capital Impact Advisors LLC now owns 1,509 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 99 shares during the last quarter. Piscataqua Savings Bank lifted its stake in Intercontinental Exchange by 35.1% in the 1st quarter. Piscataqua Savings Bank now owns 385 shares of the financial services provider’s stock valued at $40,000 after buying an additional 100 shares in the last quarter. Finally, Millburn Ridgefield Corp grew its holdings in Intercontinental Exchange by 4.3% during the 1st quarter. Millburn Ridgefield Corp now owns 2,474 shares of the financial services provider’s stock valued at $258,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 87.91% of the company’s stock.

Insider Activity

In related news, Director Martha A. Tirinnanzi sold 496 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $113.56, for a total transaction of $56,325.76. Following the completion of the sale, the director now directly owns 2,878 shares of the company’s stock, valued at approximately $326,825.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Martha A. Tirinnanzi sold 496 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $113.56, for a total transaction of $56,325.76. Following the transaction, the director now directly owns 2,878 shares of the company’s stock, valued at approximately $326,825.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $117.14, for a total value of $234,280.00. Following the completion of the transaction, the president now owns 125,647 shares of the company’s stock, valued at approximately $14,718,289.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,563 shares of company stock valued at $1,218,379. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $115.89 on Tuesday. The business’s fifty day moving average price is $115.40 and its 200 day moving average price is $109.62. Intercontinental Exchange, Inc. has a twelve month low of $88.60 and a twelve month high of $118.79. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $64.93 billion, a P/E ratio of 38.50, a PEG ratio of 2.30 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.06. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Intercontinental Exchange had a return on equity of 13.11% and a net margin of 17.64%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. As a group, research analysts anticipate that Intercontinental Exchange, Inc. will post 5.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.68 annualized dividend and a yield of 1.45%. Intercontinental Exchange’s dividend payout ratio is currently 55.81%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley cut their price target on Intercontinental Exchange from $124.00 to $118.00 and set an “equal weight” rating for the company in a report on Wednesday, September 6th. Piper Sandler raised their price target on shares of Intercontinental Exchange from $125.00 to $135.00 in a research note on Wednesday, July 5th. Rosenblatt Securities reissued a “buy” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research report on Friday, August 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intercontinental Exchange from $125.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, StockNews.com started coverage on Intercontinental Exchange in a report on Thursday, August 17th. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

Intercontinental Exchange 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.