Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Financial Enhancement Group LLC

07 Nov 2024, 10:56 by Renee Jackson · The Cerbat Gem

Financial Enhancement Group LLC reduced its holdings in Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 29.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,801 shares of the financial services provider’s stock after selling 16,293 shares during the quarter. Intercontinental Exchange accounts for 1.1% of Financial Enhancement Group LLC’s portfolio, making the stock its 28th largest position. Financial Enhancement Group LLC’s holdings in Intercontinental Exchange were worth $6,394,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norden Group LLC acquired a new stake in shares of Intercontinental Exchange in the 1st quarter worth approximately $487,000. Advisory Alpha LLC acquired a new stake in Intercontinental Exchange in the first quarter worth approximately $207,000. Manchester Capital Management LLC boosted its stake in Intercontinental Exchange by 5.5% during the 1st quarter. Manchester Capital Management LLC now owns 1,983 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 103 shares in the last quarter. Empirical Finance LLC increased its position in shares of Intercontinental Exchange by 11.8% during the 1st quarter. Empirical Finance LLC now owns 7,978 shares of the financial services provider’s stock valued at $1,096,000 after purchasing an additional 844 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Intercontinental Exchange by 23.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 79,960 shares of the financial services provider’s stock worth $10,989,000 after buying an additional 14,937 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ICE shares. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a report on Monday, October 14th. Finally, Bank of America raised their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.93.

Read Our Latest Stock Analysis on ICE

Intercontinental Exchange Price Performance

NYSE ICE opened at $155.79 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $89.45 billion, a price-to-earnings ratio of 36.92, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. The company has a 50 day simple moving average of $161.71 and a 200-day simple moving average of $148.85. Intercontinental Exchange, Inc. has a 52-week low of $107.76 and a 52-week high of $167.99.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.09 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.65%.

Insiders Place Their Bets

In related news, Director Martha A. Tirinnanzi sold 509 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the sale, the director now owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the sale, the director now owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 in the last three months. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company Profile

(Free Report)