Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,427 shares of the financial services provider’s stock after selling 1,502 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Intercontinental Exchange were worth $697,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ICE. RB Capital Management LLC boosted its holdings in Intercontinental Exchange by 3.2% in the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 126 shares during the last quarter. United Bank grew its holdings in Intercontinental Exchange by 2.7% during the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after acquiring an additional 422 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in Intercontinental Exchange by 13.5% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 220 shares during the period. Sei Investments Co. boosted its holdings in Intercontinental Exchange by 31.5% during the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock worth $27,077,000 after buying an additional 49,081 shares in the last quarter. Finally, Prudential PLC acquired a new position in shares of Intercontinental Exchange in the first quarter worth about $1,679,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Piper Sandler upped their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Citigroup increased their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Rosenblatt Securities upped their price objective on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. UBS Group raised their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, Morgan Stanley raised their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $147.08.

Insiders Place Their Bets

In other news, insider Elizabeth Kathryn King sold 3,783 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $499,469.49. Following the completion of the transaction, the insider now owns 17,242 shares in the company, valued at approximately $2,276,461.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the sale, the insider now owns 17,242 shares of the company’s stock, valued at $2,276,461.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,491 shares of company stock worth $21,454,204. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $130.74 on Thursday. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a market cap of $74.86 billion, a P/E ratio of 31.13, a PEG ratio of 2.06 and a beta of 1.02. The firm has a fifty day moving average price of $136.42 and a 200 day moving average price of $124.22.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

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.