Simmons Bank Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Simmons Bank raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,832 shares of the financial services provider’s stock after purchasing an additional 1,090 shares during the quarter. Simmons Bank’s holdings in Intercontinental Exchange were worth $3,574,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. OFI Invest Asset Management acquired a new position in Intercontinental Exchange in the 3rd quarter valued at $25,000. Jones Financial Companies Lllp purchased a new position in Intercontinental Exchange during the third quarter worth about $26,000. Fortitude Family Office LLC purchased a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in Intercontinental Exchange in the fourth quarter valued at about $28,000. Finally, BKM Wealth Management LLC purchased a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ICE shares. Barclays cut their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday. UBS Group lifted their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Piper Sandler upped their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Keefe, Bruyette & Woods reduced their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $147.92.

Insider Buying and Selling at Intercontinental Exchange

In related news, SVP Douglas Foley sold 7,070 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $136.09, for a total value of $962,156.30. Following the completion of the sale, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at $2,501,742.47. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Intercontinental Exchange news, SVP Douglas Foley sold 7,070 shares of Intercontinental Exchange stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the completion of the transaction, the senior vice president now owns 18,383 shares of the company’s stock, valued at $2,501,742.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The disclosure for this sale can be found here. Insiders have sold 157,832 shares of company stock worth $21,499,127 in the last ninety days. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Stock Up 1.9 %

NYSE:ICE traded up $2.44 during mid-day trading on Tuesday, hitting $133.72. The company had a trading volume of 2,381,926 shares, compared to its average volume of 2,417,967. The business has a fifty day simple moving average of $134.78 and a 200-day simple moving average of $126.35. The firm has a market capitalization of $76.70 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the business earned $1.41 EPS. Equities analysts forecast that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.35%. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

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.