Metis Global Partners LLC Cuts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Metis Global Partners LLC reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,881 shares of the financial services provider’s stock after selling 1,517 shares during the period. Metis Global Partners LLC’s holdings in Intercontinental Exchange were worth $3,324,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, with a total value 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 $6,504,420.15. The disclosure for this purchase can be found here. Insiders sold 157,832 shares of company stock valued at $21,499,127 in the last three months. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Up 0.6 %

Intercontinental Exchange stock traded up $0.78 during midday trading on Monday, reaching $131.28. 1,738,904 shares of the stock traded hands, compared to its average volume of 2,418,198. The firm has a market cap of $75.30 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The company has a 50-day simple moving average of $135.01 and a two-hundred day simple moving average of $126.02. Intercontinental Exchange, Inc. has a 12-month low of $103.81 and a 12-month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. Research analysts expect that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be issued a $0.45 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.37%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. UBS Group boosted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a research note on Friday. Bank of America lowered their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Citigroup raised their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Piper Sandler increased their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.92.

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.