Rakuten Securities Inc. Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Rakuten Securities Inc. purchased a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 306 shares of the financial services provider’s stock, valued at approximately $39,000.

Several other hedge funds have also added to or reduced their stakes in ICE. RB Capital Management LLC raised its stake in shares of Intercontinental Exchange by 3.2% during the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 126 shares during the last quarter. United Bank raised its stake in shares of Intercontinental Exchange by 2.7% during the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock valued at $2,112,000 after acquiring an additional 422 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Intercontinental Exchange by 13.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 220 shares during the last quarter. Sei Investments Co. raised its stake in shares of Intercontinental Exchange by 31.5% during the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock valued at $27,077,000 after acquiring an additional 49,081 shares during the last quarter. Finally, Prudential PLC bought a new position in shares of Intercontinental Exchange during the first quarter valued at about $1,679,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ICE. Barclays boosted their price target on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $152.00 price target on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Piper Sandler upped their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.08.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Lynn C. Martin sold 3,772 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $136.59, for a total transaction of $515,217.48. Following the completion of the transaction, the insider now directly owns 58,999 shares of the company’s stock, valued at $8,058,673.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the transaction, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The disclosure for this sale can be found here. Insiders sold a total of 157,491 shares of company stock valued at $21,454,204 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 0.2 %

Shares of NYSE ICE opened at $130.98 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The company has a market cap of $75.00 billion, a PE ratio of 31.19, a P/E/G ratio of 2.07 and a beta of 1.02. The firm’s 50 day moving average price is $136.36 and its 200-day moving average price is $124.27.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. On average, equities research analysts expect that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. Intercontinental Exchange’s dividend payout ratio is 42.86%.

About Intercontinental Exchange

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.