AIA Group Ltd Grows Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Posted by Defense World Staff on Apr 16th, 2023

AIA Group Ltd raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 35.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,424 shares of the financial services provider’s stock after acquiring an additional 638 shares during the period. AIA Group Ltd’s holdings in Intercontinental Exchange were worth $249,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MADDEN SECURITIES Corp purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $26,000. Concord Wealth Partners acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $27,000. Cowa LLC bought a new stake in shares of Intercontinental Exchange during the third quarter valued at approximately $27,000. MinichMacGregor Wealth Management LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth $32,000. Finally, WASHINGTON TRUST Co lifted its holdings in Intercontinental Exchange by 173.9% in the third quarter. WASHINGTON TRUST Co now owns 315 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 87.28% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Douglas Foley sold 1,600 shares of the firm’s 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 owns 21,481 shares in the company, valued at approximately $2,251,208.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total transaction of $167,680.00. Following the transaction, the senior vice president now owns 21,481 shares in the company, valued at $2,251,208.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 81,827 shares of the business’s stock in a transaction on Wednesday, February 22nd. The shares were 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 owns 1,203,104 shares of the company’s stock, valued at $125,146,878.08. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ICE shares. StockNews.com started coverage on shares of Intercontinental Exchange in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Morgan Stanley raised their target price on Intercontinental Exchange from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 11th. Keefe, Bruyette & Woods cut their price objective on shares of 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 lifted their target price on Intercontinental Exchange from $126.00 to $127.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 6th. Finally, UBS Group raised their price objective on Intercontinental Exchange from $119.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $131.55.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $107.51 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $88.60 and a 12 month high of $125.36. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average of $103.47 and a 200-day moving average of $102.10. The company has a market cap of $60.17 billion, a PE ratio of 41.83, a PEG ratio of 2.04 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The financial services provider reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. Intercontinental Exchange had a net margin of 15.01% and a return on equity of 13.11%. The business’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. On average, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.46 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 17th were issued a dividend of $0.42 per share. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 16th. This represents a $1.68 annualized dividend and a yield of 1.56%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 65.37%.

Intercontinental Exchange Profile

(Get Rating)

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.