Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by SouthState Corp

SouthState Corp grew its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,417 shares of the financial services provider’s stock after purchasing an additional 2,851 shares during the period. SouthState Corp’s holdings in Intercontinental Exchange were worth $9,897,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ICE. Janus Henderson Group PLC increased its holdings in shares of Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after purchasing an additional 3,460,096 shares during the period. Raymond James Financial Inc. acquired a new stake in Intercontinental Exchange during the fourth quarter worth about $406,728,000. FMR LLC grew its holdings in Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Swedbank AB grew its holdings in Intercontinental Exchange by 2,293.3% during the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after acquiring an additional 2,123,185 shares during the period. Finally, AMF Tjanstepension AB grew its holdings in Intercontinental Exchange by 1,237.7% during the fourth quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock worth $253,591,000 after acquiring an additional 1,574,386 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $171.28 on Monday. The company has a market cap of $98.41 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The stock’s 50 day simple moving average is $161.47 and its 200-day simple moving average is $159.63. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $175.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.12%. Intercontinental Exchange’s payout ratio is 40.17%.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays increased their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Insider Buying and Selling

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the sale, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,313 shares of company stock worth $11,113,733. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Company Profile

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.