Congress Asset Management Co. Sells 7,391 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Congress Asset Management Co. lessened its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 72.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,810 shares of the financial services provider’s stock after selling 7,391 shares during the period. Congress Asset Management Co.’s holdings in Intercontinental Exchange were worth $451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ICE. Vanguard Group Inc. lifted its holdings in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. CCLA Investment Management grew its stake in shares of Intercontinental Exchange by 91,838.2% in the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after acquiring an additional 1,113,079 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Intercontinental Exchange during the second quarter worth about $124,508,000. Janus Henderson Group PLC raised its stake in Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after purchasing an additional 687,817 shares in the last quarter. Finally, James Hambro & Partners bought a new stake in Intercontinental Exchange in the 2nd quarter valued at about $93,340,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.8 %

Shares of ICE opened at $154.64 on Friday. The stock has a market capitalization of $88.79 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.51 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52 week low of $104.91 and a 52 week high of $167.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average of $161.98 and a 200-day moving average of $148.20.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm posted $1.46 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.13 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 44.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ICE. Piper Sandler raised their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Bank of America boosted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $173.93.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,489 shares of company stock valued at $1,202,259. Insiders own 1.10% of the company’s stock.

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.