Ninety One UK Ltd Has $372.58 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Ninety One UK Ltd lifted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 10.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,901,068 shares of the financial services provider’s stock after purchasing an additional 278,265 shares during the quarter. Intercontinental Exchange comprises 1.1% of Ninety One UK Ltd’s holdings, making the stock its 28th biggest position. Ninety One UK Ltd owned approximately 0.52% of Intercontinental Exchange worth $372,584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ICE. Waterfront Wealth Inc. lifted its stake in Intercontinental Exchange by 2.2% in the 4th quarter. Waterfront Wealth Inc. now owns 9,084 shares of the financial services provider’s stock valued at $1,167,000 after acquiring an additional 196 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Intercontinental Exchange by 81.9% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,257 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 566 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Intercontinental Exchange by 3.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 82,272 shares of the financial services provider’s stock worth $10,566,000 after purchasing an additional 2,373 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $39,000. Finally, TRUE Private Wealth Advisors raised its stake in shares of Intercontinental Exchange by 34.1% during the 4th quarter. TRUE Private Wealth Advisors now owns 3,404 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 865 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the completion of the sale, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total value of $8,011,417.48. Following the completion of the sale, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Insiders sold 157,491 shares of company stock valued at $21,454,204 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.2 %

Intercontinental Exchange stock traded down $0.23 during trading hours on Thursday, hitting $130.51. The stock had a trading volume of 749,721 shares, compared to its average volume of 2,382,136. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The stock has a market cap of $74.73 billion, a price-to-earnings ratio of 31.07, a P/E/G ratio of 2.06 and a beta of 1.02. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The business’s 50 day simple moving average is $136.42 and its 200-day simple moving average is $124.22.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $1.25 earnings per share. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

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

Analyst Ratings Changes

ICE has been the topic of a number of analyst reports. 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. Morgan Stanley boosted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. UBS Group boosted their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Barclays boosted their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Citigroup upped their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.08.

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.