Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% during the third quarter, Holdings Channel.com reports. The firm owned 2,174,626 shares of the financial services provider’s stock after selling 24,298 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Intercontinental Exchange were worth $349,332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Millennium Group LLC acquired a new stake in Intercontinental Exchange during the second quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter worth $25,000. Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at $25,000. Wolff Wiese Magana LLC increased its stake in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Intercontinental Exchange in the third quarter valued at $26,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 0.4 %

Intercontinental Exchange stock opened at $157.08 on Tuesday. The company’s fifty day simple moving average is $161.43 and its 200-day simple moving average is $149.49. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12 month low of $108.62 and a 12 month high of $167.99. The stock has a market cap of $90.19 billion, a P/E ratio of 37.22, a P/E/G ratio of 2.61 and a beta of 1.08.

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

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 of this dividend is Monday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 42.65%.

Analysts Set New Price Targets

A number of research firms have weighed in on ICE. The Goldman Sachs Group increased their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Barclays cut their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Piper Sandler lifted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity

In related news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,489 shares of company stock valued at $1,202,259. Insiders own 1.10% of the company’s stock.

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.