Thrivent Financial for Lutherans Grows Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Posted by Defense World Staff on Sep 13th, 2023

Thrivent Financial for Lutherans raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 175.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,387,699 shares of the financial services provider’s stock after buying an additional 884,599 shares during the period. Thrivent Financial for Lutherans owned about 0.25% of Intercontinental Exchange worth $144,720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Gould Capital LLC boosted its position in shares of Intercontinental Exchange by 12.4% during the first quarter. Gould Capital LLC now owns 8,356 shares of the financial services provider’s stock worth $871,000 after buying an additional 919 shares during the period. Quilter Plc purchased a new position in shares of Intercontinental Exchange during the first quarter worth $1,658,310,000. TCM Advisors LLC boosted its holdings in Intercontinental Exchange by 28.7% in the first quarter. TCM Advisors LLC now owns 9,155 shares of the financial services provider’s stock valued at $955,000 after purchasing an additional 2,039 shares during the period. Colony Group LLC boosted its holdings in Intercontinental Exchange by 3.0% in the first quarter. Colony Group LLC now owns 273,202 shares of the financial services provider’s stock valued at $28,492,000 after purchasing an additional 7,922 shares during the period. Finally, Spears Abacus Advisors LLC boosted its holdings in Intercontinental Exchange by 0.8% in the first quarter. Spears Abacus Advisors LLC now owns 333,188 shares of the financial services provider’s stock valued at $34,748,000 after purchasing an additional 2,721 shares during the period. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays decreased their target price on Intercontinental Exchange from $128.00 to $122.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Intercontinental Exchange from $125.00 to $126.00 and gave the company a “buy” rating in a report on Friday, August 4th. Piper Sandler lifted their target price on Intercontinental Exchange from $125.00 to $135.00 in a report on Wednesday, July 5th. Morgan Stanley decreased their target price on Intercontinental Exchange from $124.00 to $118.00 and set an “equal weight” rating for the company in a report on Wednesday, September 6th. Finally, UBS Group lifted their target price on Intercontinental Exchange from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 8th. Four 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

Read Our Latest Research Report on ICE

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $115.43, for a total value of $57,715.00. Following the transaction, the chief financial officer now owns 15,525 shares in the company, valued at approximately $1,792,050.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $115.43, for a total value of $57,715.00. Following the transaction, the chief financial officer now owns 15,525 shares in the company, valued at approximately $1,792,050.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $113.99, for a total value of $182,384.00. Following the completion of the transaction, the senior vice president now owns 18,402 shares in the company, valued at approximately $2,097,643.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,136 shares of company stock worth $819,994. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.8 %

ICE opened at $115.98 on Wednesday. The business’s 50-day simple moving average is $115.15 and its 200-day simple moving average is $109.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.10 and a current ratio of 1.10. Intercontinental Exchange, Inc. has a one year low of $88.60 and a one year high of $118.79. The stock has a market capitalization of $64.98 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 2.32 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. Intercontinental Exchange had a return on equity of 13.11% and a net margin of 17.64%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange, Inc. will post 5.65 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, September 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 55.81%.

About Intercontinental Exchange

(Free Report)

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.