Los Angeles Capital Management LLC Has $6.18 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Los Angeles Capital Management LLC boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 26.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,102 shares of the financial services provider’s stock after purchasing an additional 10,100 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Intercontinental Exchange were worth $6,178,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp bought a new position in shares of Intercontinental Exchange in the third quarter worth about $26,000. OFI Invest Asset Management acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth about $25,000. Finally, BKM Wealth Management LLC bought a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the sale, the insider now owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Elizabeth Kathryn King sold 3,783 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the completion of the transaction, the insider now directly owns 17,242 shares in the company, valued at approximately $2,276,461.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the company’s stock in a transaction on Monday, March 4th. The shares were bought at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 157,832 shares of company stock valued at $21,499,127. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ICE. Citigroup increased their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $164.00 price objective on shares of Intercontinental Exchange in a report on Friday. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday. Piper Sandler raised their price target 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. Finally, Barclays cut their target price on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.92.

Intercontinental Exchange Stock Up 3.1 %

NYSE:ICE opened at $130.50 on Friday. The company has a market cap of $74.73 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 2.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.01. The stock’s fifty day moving average price is $135.01 and its two-hundred day moving average price is $125.81. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $1.41 EPS. The company’s revenue was up 20.8% compared to the same quarter last year. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. Intercontinental Exchange’s payout ratio is currently 41.28%.

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.