Intercontinental Exchange Inc. $ICE Position Reduced by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICEFree Report) by 7.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,190 shares of the financial services provider’s stock after selling 3,119 shares during the quarter. Intercontinental Exchange comprises 2.9% of Guinness Atkinson Asset Management Inc’s portfolio, making the stock its 18th largest holding. Guinness Atkinson Asset Management Inc’s holdings in Intercontinental Exchange were worth $6,080,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange during the second quarter valued at about $28,000. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange in the second quarter worth about $29,000. Private Wealth Management Group LLC lifted its holdings in Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. Knuff & Co LLC boosted its position in shares of Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Finally, Gables Capital Management Inc. grew its stake in shares of Intercontinental Exchange by 100.0% in the 2nd quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 125 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 1.9%

Shares of Intercontinental Exchange stock opened at $167.96 on Friday. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company has a market cap of $95.77 billion, a P/E ratio of 30.59, a P/E/G ratio of 2.00 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $164.96 and a 200 day moving average price of $166.59.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.04. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid 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 dividend yield of 1.2%. Intercontinental Exchange’s dividend payout ratio is 34.97%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Morgan Stanley set a $180.00 price objective on Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Barclays set a $193.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $194.60.

View Our Latest Stock Analysis on Intercontinental Exchange

Insider Buying and Selling at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $153.65, for a total transaction of $241,537.80. Following the completion of the sale, the chief financial officer directly owned 20,534 shares of the company’s stock, valued at $3,155,049.10. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,345 shares of Intercontinental Exchange stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $156.67, for a total value of $837,401.15. Following the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,221,150.80. This represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 166,068 shares of company stock valued at $25,470,702 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

More Intercontinental Exchange News

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About Intercontinental Exchange

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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