Lincoln National Corp Grows Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Lincoln National Corp lifted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,661 shares of the financial services provider’s stock after buying an additional 319 shares during the period. Lincoln National Corp’s holdings in Intercontinental Exchange were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $25,000. Jones Financial Companies Lllp bought a new position in Intercontinental Exchange in the third quarter worth approximately $26,000. Fortitude Family Office LLC bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $28,000. Finally, BKM Wealth Management LLC bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $31,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ICE. Piper Sandler boosted their price objective on shares of 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 upped their price target 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. Keefe, Bruyette & Woods reduced their price target on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.92.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Benjamin Jackson sold 27,970 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the completion of the transaction, the president now directly owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Insiders have sold a total of 157,832 shares of company stock valued at $21,499,127 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

NYSE:ICE traded down $0.71 during mid-day trading on Wednesday, hitting $133.01. The company’s stock had a trading volume of 307,349 shares, compared to its average volume of 2,393,716. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $76.29 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.14 and a beta of 1.02. The business’s fifty day moving average is $134.78 and its two-hundred day moving average is $126.35.

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

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s payout ratio is currently 41.28%.

Intercontinental Exchange Company 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.