Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by Creative Planning

Posted by Defense World Staff on Oct 9th, 2023

Creative Planning increased its position in Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 12.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,785 shares of the financial services provider’s stock after acquiring an additional 4,105 shares during the period. Creative Planning’s holdings in Intercontinental Exchange were worth $4,273,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ICE. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Intercontinental Exchange by 91,224.9% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 92,329,444 shares of the financial services provider’s stock worth $10,440,613,000 after acquiring an additional 92,228,344 shares during the period. Norges Bank bought a new position in Intercontinental Exchange in the 4th quarter valued at about $579,605,000. T. Rowe Price Investment Management Inc. grew its position in Intercontinental Exchange by 45.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock valued at $1,755,753,000 after buying an additional 5,354,161 shares in the last quarter. Morgan Stanley grew its position in Intercontinental Exchange by 18.9% in the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock valued at $2,606,466,000 after buying an additional 4,044,744 shares in the last quarter. Finally, Veritas Asset Management LLP grew its position in Intercontinental Exchange by 76.9% in the 1st quarter. Veritas Asset Management LLP now owns 7,450,402 shares of the financial services provider’s stock valued at $777,002,000 after buying an additional 3,239,605 shares in the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 88,683 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $112.82, for a total transaction of $10,005,216.06. Following the transaction, the chief executive officer now owns 1,169,965 shares of the company’s stock, valued at $131,995,451.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, September 8th. The shares were 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 of the company’s stock, valued at $1,792,050.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 88,683 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $112.82, for a total transaction of $10,005,216.06. Following the completion of the transaction, the chief executive officer now directly owns 1,169,965 shares in the company, valued at approximately $131,995,451.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,246 shares of company stock valued at $11,223,595. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ICE shares. Barclays decreased their target price on shares of Intercontinental Exchange from $128.00 to $122.00 and set an “equal weight” rating for the company in a research report on Friday, August 4th. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $125.00 to $135.00 in a research report on Wednesday, July 5th. Bank of America decreased their target price on shares of Intercontinental Exchange from $141.00 to $140.00 in a report on Tuesday, October 3rd. Raymond James decreased their target price on shares of Intercontinental Exchange from $137.00 to $135.00 and set a “strong-buy” rating for the company in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Intercontinental Exchange from $129.00 to $135.00 in a report on Friday, September 29th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.67.

Read Our Latest Stock Analysis on ICE

Intercontinental Exchange Price Performance

NYSE ICE opened at $110.88 on Monday. The company has a 50 day simple moving average of $113.88 and a 200-day simple moving average of $110.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $62.13 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 2.19 and a beta of 0.94. Intercontinental Exchange, Inc. has a 52-week low of $88.60 and a 52-week high of $118.79.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 earnings per share. Equities research analysts predict that Intercontinental Exchange, Inc. will post 5.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Thursday, September 14th. Intercontinental Exchange’s payout ratio is presently 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.