Lindbrook Capital LLC Increases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Lindbrook Capital LLC lifted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 299.6% in the third quarter, Holdings Channel reports. The fund owned 8,124 shares of the financial services provider’s stock after purchasing an additional 6,091 shares during the quarter. Lindbrook Capital LLC’s holdings in Intercontinental Exchange were worth $1,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Intercontinental Exchange by 4.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock valued at $725,657,000 after buying an additional 218,516 shares during the period. Legal & General Group Plc lifted its position in Intercontinental Exchange by 4.5% in the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after buying an additional 191,763 shares during the last quarter. Clearbridge Investments LLC lifted its position in Intercontinental Exchange by 10.4% in the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after buying an additional 284,664 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Intercontinental Exchange by 0.7% during the first quarter. Bessemer Group Inc. now owns 2,795,043 shares of the financial services provider’s stock worth $384,122,000 after buying an additional 19,127 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the transaction, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Performance

ICE stock opened at $156.47 on Friday. Intercontinental Exchange, Inc. has a 1-year low of $108.44 and a 1-year high of $167.99. The business has a 50-day moving average price of $161.52 and a 200 day moving average price of $149.07. The company has a market capitalization of $89.84 billion, a P/E ratio of 37.08, a PEG ratio of 2.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ICE. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research note on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. TD Cowen started coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $173.93.

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.