Snyder Capital Management L P Purchases 125,983 Shares of Intercontinental Exchange Inc. $ICE

by · The Markets Daily

Snyder Capital Management L P lifted its position in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 42.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 420,411 shares of the financial services provider’s stock after buying an additional 125,983 shares during the period. Intercontinental Exchange comprises 1.3% of Snyder Capital Management L P’s portfolio, making the stock its 29th largest holding. Snyder Capital Management L P owned about 0.07% of Intercontinental Exchange worth $70,831,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Westside Investment Management Inc. bought a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $29,000. Private Wealth Management Group LLC boosted its position in shares of Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. Knuff & Co LLC increased its holdings in Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Caitlin John LLC purchased a new position in Intercontinental Exchange in the 3rd quarter worth about $32,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Intercontinental Exchange by 128.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Lynn C. Martin sold 13,456 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the transaction, the insider directly owned 54,319 shares in the company, valued at $8,357,521.34. The trade was a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Benjamin Jackson sold 3,865 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the transaction, the president directly owned 165,304 shares of the company’s stock, valued at approximately $25,412,183.92. This trade represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 359,063 shares of company stock valued at $55,879,604. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Up 0.9%

ICE stock opened at $166.24 on Thursday. The business’s 50-day moving average price is $164.66 and its 200-day moving average price is $163.09. The stock has a market cap of $94.41 billion, a P/E ratio of 28.81, a PEG ratio of 1.72 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 EPS. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 33.28%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ICE shares. Barclays set a $193.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Buy” and a consensus target price of $195.40.

Get Our Latest Analysis on ICE

Intercontinental Exchange Company Profile

(Free Report)

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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