Linscomb Wealth Inc. Lowers Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Linscomb Wealth Inc. lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 22.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,996 shares of the financial services provider’s stock after selling 575 shares during the period. Linscomb Wealth Inc.’s holdings in Intercontinental Exchange were worth $321,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC grew its stake in shares of Intercontinental Exchange by 8.6% in the third quarter. Empowered Funds LLC now owns 10,829 shares of the financial services provider’s stock worth $1,740,000 after acquiring an additional 854 shares in the last quarter. Empirical Finance LLC boosted its holdings in Intercontinental Exchange by 9.8% in the third quarter. Empirical Finance LLC now owns 8,174 shares of the financial services provider’s stock valued at $1,313,000 after purchasing an additional 728 shares during the period. First Business Financial Services Inc. grew its stake in Intercontinental Exchange by 4.3% during the 3rd quarter. First Business Financial Services Inc. now owns 15,163 shares of the financial services provider’s stock worth $2,436,000 after purchasing an additional 629 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Intercontinental Exchange by 2.0% during the 3rd quarter. CIBC Asset Management Inc now owns 175,987 shares of the financial services provider’s stock worth $28,262,000 after purchasing an additional 3,430 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Intercontinental Exchange by 9.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,667 shares of the financial services provider’s stock valued at $2,517,000 after purchasing an additional 1,346 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 0.6 %

NYSE:ICE opened at $155.55 on Friday. The company has a market capitalization of $89.31 billion, a PE ratio of 36.86, a P/E/G ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52-week low of $110.64 and a 52-week high of $167.99. The stock’s 50 day moving average price is $160.97 and its 200 day moving average price is $149.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.65%.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 over the last quarter. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ICE. TD Cowen began coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. 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. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.