American Century Companies Inc. Acquires 17,506 Shares of Intercontinental Exchange Inc. $ICE

American Century Companies Inc. boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,485 shares of the financial services provider’s stock after acquiring an additional 17,506 shares during the quarter. American Century Companies Inc.’s holdings in Intercontinental Exchange were worth $38,034,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Ethic Inc. grew its stake in Intercontinental Exchange by 5.8% during the first quarter. Ethic Inc. now owns 75,475 shares of the financial services provider’s stock worth $12,943,000 after buying an additional 4,168 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Intercontinental Exchange by 23.5% during the first quarter. EverSource Wealth Advisors LLC now owns 4,733 shares of the financial services provider’s stock worth $817,000 after buying an additional 902 shares during the last quarter. Element Capital Management LLC bought a new stake in Intercontinental Exchange during the first quarter worth about $2,678,000. Aberdeen Group plc grew its stake in Intercontinental Exchange by 45.7% during the first quarter. Aberdeen Group plc now owns 675,905 shares of the financial services provider’s stock worth $116,414,000 after buying an additional 212,031 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Intercontinental Exchange by 5.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,935,649 shares of the financial services provider’s stock worth $333,926,000 after buying an additional 92,209 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Up 1.7%

ICE opened at $181.3540 on Thursday. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s fifty day moving average is $182.19 and its two-hundred day moving average is $173.81. The firm has a market cap of $103.81 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11.

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

Intercontinental Exchange Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on ICE. Piper Sandler upped their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note 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 note on Friday, August 1st. Keefe, Bruyette & Woods increased their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note 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 note on Tuesday, July 8th. 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 note on Monday, May 5th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $194.92.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 approximately $357,337,668.45. This trade represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 442,936 shares of company stock valued at $80,227,488 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

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.