Rakuten Securities Inc. Acquires Shares of 306 Intercontinental Exchange, Inc. (NYSE:ICE)

Rakuten Securities Inc. acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 306 shares of the financial services provider’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. TRUE Private Wealth Advisors lifted its holdings in Intercontinental Exchange by 34.1% during the fourth quarter. TRUE Private Wealth Advisors now owns 3,404 shares of the financial services provider’s stock valued at $437,000 after purchasing an additional 865 shares in the last quarter. Scissortail Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $650,000. Avior Wealth Management LLC raised its position in shares of Intercontinental Exchange by 0.6% in the fourth quarter. Avior Wealth Management LLC now owns 17,645 shares of the financial services provider’s stock valued at $2,266,000 after buying an additional 105 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Intercontinental Exchange by 1.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 218,370 shares of the financial services provider’s stock valued at $28,045,000 after buying an additional 2,948 shares during the last quarter. Finally, Lipe & Dalton raised its position in shares of Intercontinental Exchange by 2.9% in the fourth quarter. Lipe & Dalton now owns 3,560 shares of the financial services provider’s stock valued at $457,000 after buying an additional 100 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Douglas Foley sold 7,070 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the completion of the transaction, the senior vice president now owns 18,383 shares of the company’s stock, valued at $2,501,742.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Douglas Foley sold 7,070 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the completion of the transaction, the senior vice president now owns 18,383 shares of the company’s stock, valued at $2,501,742.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the transaction, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,491 shares of company stock valued at $21,454,204. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $130.98 on Friday. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The stock has a market cap of $75.00 billion, a PE ratio of 31.19, a P/E/G ratio of 2.07 and a beta of 1.02. The firm has a 50-day simple moving average of $136.36 and a two-hundred day simple moving average of $124.27. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the business earned $1.25 earnings per share. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.45 dividend. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Rosenblatt Securities raised their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Raymond James raised their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Finally, Barclays raised their price objective on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.08.

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.