Credit Agricole S A Buys 22,715 Shares of Intercontinental Exchange Inc. $ICE

Credit Agricole S A boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 11.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 226,667 shares of the financial services provider’s stock after acquiring an additional 22,715 shares during the quarter. Credit Agricole S A’s holdings in Intercontinental Exchange were worth $39,100,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ICE. REAP Financial Group LLC lifted its position in Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 91 shares during the period. Tsfg LLC lifted its position in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 103 shares during the period. Menard Financial Group LLC acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $29,000. Rakuten Securities Inc. lifted its position in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 143 shares during the period. Finally, McClarren Financial Advisors Inc. acquired a new position in Intercontinental Exchange during the 1st quarter valued at about $30,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, Director Sharon Bowen sold 795 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the completion of the transaction, the director directly owned 15,000 shares of the company’s stock, valued at $2,749,500. This trade represents a 5.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,951,705 shares of the company’s stock, valued at $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 443,488 shares of company stock worth $80,323,823. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $178.14 on Tuesday. The stock has a market capitalization of $101.97 billion, a P/E ratio of 34.19, a P/E/G ratio of 2.15 and a beta of 1.11. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a 50 day moving average of $182.07 and a 200-day moving average of $173.73. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $1.52 EPS. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.1%. Intercontinental Exchange’s dividend payout ratio is currently 36.85%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. UBS Group increased their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Piper Sandler increased their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Barclays increased their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Morgan Stanley increased their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.92.

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.