Seven Eight Capital LP Purchases 4,344 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Seven Eight Capital LP boosted its position in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 125.0% during the third quarter, Holdings Channel reports. The fund owned 7,818 shares of the financial services provider’s stock after acquiring an additional 4,344 shares during the period. Seven Eight Capital LP’s holdings in Intercontinental Exchange were worth $860,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ICE. OFI Invest Asset Management bought a new position in shares of Intercontinental Exchange during the third quarter valued at about $25,000. Jones Financial Companies Lllp bought a new position in shares of Intercontinental Exchange during the third quarter valued at about $26,000. First Capital Advisors Group LLC. bought a new position in shares of Intercontinental Exchange during the second quarter valued at about $35,000. Pacifica Partners Inc. bought a new position in shares of Intercontinental Exchange during the third quarter valued at about $37,000. Finally, Halpern Financial Inc. grew its stake in shares of Intercontinental Exchange by 545.6% during the third quarter. Halpern Financial Inc. now owns 368 shares of the financial services provider’s stock valued at $40,000 after buying an additional 311 shares during the last quarter. Institutional investors own 87.91% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $138.85 on Friday. The business’s fifty day moving average price is $131.49 and its 200-day moving average price is $119.87. The stock has a market capitalization of $79.51 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 2.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1-year low of $94.16 and a 1-year high of $140.43.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. Intercontinental Exchange’s revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 5.91 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.30%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is 40.00%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the business’s stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the purchase, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Christopher Scott Edmonds sold 1,266 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $115.00, for a total transaction of $145,590.00. Following the completion of the transaction, the insider now owns 11,533 shares in the company, valued at $1,326,295. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The disclosure for this purchase can be found here. Insiders sold 159,554 shares of company stock worth $21,000,983 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler increased their target price 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. Rosenblatt Securities upped their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Citigroup upped their target price on Intercontinental Exchange from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. UBS Group boosted their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, Morgan Stanley boosted their price target on Intercontinental Exchange from $133.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.83.

Check Out Our Latest Research Report on ICE

Intercontinental Exchange Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange, Inc. (NYSE:ICEFree Report).

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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