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

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

A number of other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in shares of Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after buying an additional 281,503 shares in the last quarter. Geode Capital Management LLC grew its stake in Intercontinental Exchange by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after purchasing an additional 169,922 shares in the last quarter. FMR LLC grew its stake in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after purchasing an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC grew its stake in Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after purchasing an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after purchasing an additional 390,332 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 1.3 %

Intercontinental Exchange stock opened at $171.28 on Monday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $175.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $98.41 billion, a P/E ratio of 35.83, a PEG ratio of 2.10 and a beta of 1.08. The stock has a 50-day simple moving average of $161.47 and a 200-day simple moving average of $159.63.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

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

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. The trade was a 5.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,313 shares of company stock worth $11,113,733 in the last quarter. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ICE. Barclays boosted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group lifted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. decreased their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $178.80.

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.