Intercontinental Exchange, Inc. (NYSE:ICE) Shares Purchased by Baldwin Brothers LLC MA

Posted by on Apr 9th, 2023

Baldwin Brothers LLC MA increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 9.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,460 shares of the financial services provider’s stock after acquiring an additional 130 shares during the quarter. Baldwin Brothers LLC MA’s holdings in Intercontinental Exchange were worth $150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. MADDEN SECURITIES Corp acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $26,000. Cowa LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $27,000. IMA Wealth Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter valued at approximately $28,000. MinichMacGregor Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $32,000. Finally, WASHINGTON TRUST Co lifted its position in shares of Intercontinental Exchange by 173.9% in the third quarter. WASHINGTON TRUST Co now owns 315 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 1.9 %

Shares of NYSE ICE opened at $108.25 on Friday. The company has a market capitalization of $60.59 billion, a P/E ratio of 42.12, a P/E/G ratio of 2.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50 day simple moving average of $103.56 and a 200-day simple moving average of $101.61. Intercontinental Exchange, Inc. has a 1 year low of $88.60 and a 1 year high of $132.30.

Intercontinental Exchange (NYSE:ICE – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The financial services provider reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). Intercontinental Exchange had a return on equity of 13.11% and a net margin of 15.01%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 5.42 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.55%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 65.37%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ICE. Keefe, Bruyette & Woods dropped their price target on Intercontinental Exchange from $125.00 to $122.00 and set a “market perform” rating for the company in a research report on Wednesday, March 1st. Raymond James upped their target price on shares of Intercontinental Exchange from $126.00 to $127.00 and gave the stock a “strong-buy” rating in a report on Thursday. TheStreet raised shares of Intercontinental Exchange from a “c+” rating to a “b-” rating in a research note on Wednesday, January 25th. Citigroup upped their price objective on shares of Intercontinental Exchange from $110.00 to $117.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Finally, Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $116.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, January 11th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.27.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $104.80, for a total transaction of $167,680.00. Following the completion of the sale, the senior vice president now directly owns 21,481 shares in the company, valued at $2,251,208.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Jeffrey C. Sprecher sold 81,827 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total value of $8,511,644.54. Following the completion of the sale, the chief executive officer now directly owns 1,203,104 shares of the company’s stock, valued at $125,146,878.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total value of $167,680.00. Following the transaction, the senior vice president now directly owns 21,481 shares in the company, valued at approximately $2,251,208.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

About Intercontinental Exchange

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Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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