Lincoln National Corp Has $1.63 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Lincoln National Corp increased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,661 shares of the financial services provider’s stock after acquiring an additional 319 shares during the period. Lincoln National Corp’s holdings in Intercontinental Exchange were worth $1,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. OFI Invest Asset Management acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth about $25,000. Jones Financial Companies Lllp bought a new stake in Intercontinental Exchange in the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Stuart Chaussee & Associates Inc. bought a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Finally, BKM Wealth Management LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of ICE traded down $0.71 during trading hours on Wednesday, hitting $133.01. 307,349 shares of the company were exchanged, compared to its average volume of 2,393,716. The company has a market cap of $76.29 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average is $134.78 and its 200 day moving average is $126.35.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. Intercontinental Exchange’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

Analyst Ratings Changes

Several equities research analysts have commented on ICE shares. Bank of America cut their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Piper Sandler upped their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Barclays dropped their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Keefe, Bruyette & Woods dropped their price target on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.92.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the transaction, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The disclosure for this purchase can be found here. Insiders have sold 157,832 shares of company stock valued at $21,499,127 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

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.