Elwood Capital Partners LP Increases Stake in Intercontinental Exchange Inc. $ICE

Elwood Capital Partners LP grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 26.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,128 shares of the financial services provider’s stock after buying an additional 3,628 shares during the quarter. Intercontinental Exchange accounts for approximately 2.5% of Elwood Capital Partners LP’s portfolio, making the stock its 13th biggest position. Elwood Capital Partners LP’s holdings in Intercontinental Exchange were worth $2,955,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its stake in Intercontinental Exchange by 115.0% during the first quarter. AlphaQuest LLC now owns 13,502 shares of the financial services provider’s stock worth $2,329,000 after purchasing an additional 7,221 shares during the last quarter. Allstate Corp lifted its stake in Intercontinental Exchange by 12.9% during the first quarter. Allstate Corp now owns 19,214 shares of the financial services provider’s stock worth $3,314,000 after purchasing an additional 2,196 shares during the last quarter. Sprott Inc. lifted its stake in Intercontinental Exchange by 40.8% during the first quarter. Sprott Inc. now owns 4,344 shares of the financial services provider’s stock worth $749,000 after purchasing an additional 1,259 shares during the last quarter. D.B. Root & Company LLC purchased a new stake in Intercontinental Exchange during the first quarter worth approximately $216,000. Finally, Compound Planning Inc. lifted its stake in Intercontinental Exchange by 15.7% during the first quarter. Compound Planning Inc. now owns 4,999 shares of the financial services provider’s stock worth $862,000 after purchasing an additional 680 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.8%

NYSE:ICE opened at $180.6060 on Friday. The firm has a market cap of $103.38 billion, a P/E ratio of 34.67, a PEG ratio of 2.14 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $182.25 and its 200-day simple moving average is $174.08. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35.

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

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.1%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 36.85%.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the sale, the senior vice president directly owned 27,313 shares in the company, valued at $4,847,511.24. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the sale, the chief executive officer owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 444,506 shares of company stock valued at $80,507,655. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ICE shares. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Morgan Stanley boosted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Piper Sandler lifted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Barclays lifted their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.