SpiderRock Advisors LLC Raises Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

SpiderRock Advisors LLC lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 701.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,556 shares of the financial services provider’s stock after acquiring an additional 15,365 shares during the period. SpiderRock Advisors LLC’s holdings in Intercontinental Exchange were worth $2,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ICE. CWA Asset Management Group LLC purchased a new position in shares of Intercontinental Exchange in the third quarter worth $859,000. Beckerman Institutional LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at about $562,000. Fiera Capital Corp increased its holdings in shares of Intercontinental Exchange by 8.5% in the third quarter. Fiera Capital Corp now owns 29,056 shares of the financial services provider’s stock valued at $4,668,000 after purchasing an additional 2,268 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Intercontinental Exchange in the third quarter worth about $29,000. Finally, Stiles Financial Services Inc raised its stake in shares of Intercontinental Exchange by 30.1% in the third quarter. Stiles Financial Services Inc now owns 3,411 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 790 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $156.42 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $161.52 and a 200 day moving average price of $149.07. Intercontinental Exchange, Inc. has a 12-month low of $108.44 and a 12-month high of $167.99. The stock has a market cap of $89.81 billion, a P/E ratio of 37.07, a PEG ratio of 2.60 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Monday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 42.65%.

Insider Activity

In related news, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents 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 valued at $1,202,259. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. TD Cowen began coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Piper Sandler boosted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. Finally, Bank of America upped their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.93.

About Intercontinental Exchange

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.