Haverford Trust Co Acquires 235 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Haverford Trust Co raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.5% in the third quarter, Holdings Channel reports. The fund owned 3,845 shares of the financial services provider’s stock after purchasing an additional 235 shares during the quarter. Haverford Trust Co’s holdings in Intercontinental Exchange were worth $618,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. New Millennium Group LLC acquired a new stake in Intercontinental Exchange in the second quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $25,000. Fairscale Capital LLC bought a new stake in Intercontinental Exchange during the 2nd quarter worth $25,000. Wolff Wiese Magana LLC boosted its stake in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 0.4 %

Shares of Intercontinental Exchange stock opened at $156.48 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a 52 week low of $110.11 and a 52 week high of $167.99. The stock has a 50 day moving average price of $161.20 and a two-hundred day moving average price of $149.70. The stock has a market capitalization of $89.85 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 2.60 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. TD Cowen initiated coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. Piper Sandler raised their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, Barclays lowered their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is owned by company insiders.

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.