Level Four Advisory Services LLC Acquires 11,413 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Posted by Defense World Staff on Sep 22nd, 2023

Level Four Advisory Services LLC lifted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 65.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,914 shares of the financial services provider’s stock after acquiring an additional 11,413 shares during the quarter. Level Four Advisory Services LLC’s holdings in Intercontinental Exchange were worth $3,270,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. AXS Investments LLC raised its holdings in Intercontinental Exchange by 4.0% in the fourth quarter. AXS Investments LLC now owns 10,487 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 407 shares in the last quarter. Old North State Trust LLC raised its holdings in Intercontinental Exchange by 227.3% in the first quarter. Old North State Trust LLC now owns 1,270 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 882 shares in the last quarter. Vancity Investment Management Ltd raised its holdings in Intercontinental Exchange by 0.8% in the first quarter. Vancity Investment Management Ltd now owns 94,369 shares of the financial services provider’s stock worth $9,842,000 after purchasing an additional 736 shares in the last quarter. Simmons Bank raised its holdings in Intercontinental Exchange by 67.2% in the first quarter. Simmons Bank now owns 27,135 shares of the financial services provider’s stock worth $2,830,000 after purchasing an additional 10,903 shares in the last quarter. Finally, Great Lakes Retirement Inc. bought a new position in Intercontinental Exchange in the first quarter worth $308,000. Institutional investors own 87.91% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, Director Martha A. Tirinnanzi sold 496 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $113.56, for a total value of $56,325.76. Following the completion of the transaction, the director now owns 2,878 shares in the company, valued at approximately $326,825.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Martha A. Tirinnanzi sold 496 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $113.56, for a total transaction of $56,325.76. Following the completion of the transaction, the director now owns 2,878 shares in the company, valued at approximately $326,825.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Benjamin Jackson sold 2,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $117.14, for a total value of $234,280.00. Following the transaction, the president now owns 125,647 shares of the company’s stock, valued at approximately $14,718,289.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,563 shares of company stock worth $1,218,379. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Down 2.6 %

NYSE ICE opened at $112.35 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 52 week low of $88.60 and a 52 week high of $118.79. The stock’s 50-day moving average price is $115.48 and its 200-day moving average price is $109.85. The company has a market capitalization of $62.95 billion, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 2.29 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $1.43 earnings per share (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 the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company posted $1.32 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 5.74 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, September 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is 55.81%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ICE. Barclays decreased their price objective 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. Morgan Stanley reduced their price target 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. UBS Group raised their price target on Intercontinental Exchange from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 8th. Piper Sandler raised their price target on Intercontinental Exchange from $125.00 to $135.00 in a report on Wednesday, July 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $125.00 to $126.00 and gave the company a “buy” rating in a report on Friday, August 4th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.09.

Get Our Latest Stock Report on ICE

Intercontinental Exchange Profile

(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.