JM2 Capital Inc. Purchases Shares of 5,710 Intercontinental Exchange Inc. $ICE

JM2 Capital Inc. purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,710 shares of the financial services provider’s stock, valued at approximately $925,000.

Several other large investors have also added to or reduced their stakes in ICE. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Dorato Capital Management purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Private Wealth Management Group LLC lifted its holdings in Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Caitlin John LLC purchased a new position in Intercontinental Exchange during the third quarter valued at approximately $32,000. Finally, Eagle Bay Advisors LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 2.4%

Shares of ICE opened at $164.43 on Tuesday. The company’s fifty day moving average is $160.09 and its 200 day moving average is $160.22. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The stock has a market capitalization of $93.14 billion, a PE ratio of 28.50, a P/E/G ratio of 1.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. Intercontinental Exchange’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 36.05%.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 3,865 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the sale, the president owned 165,304 shares in the company, valued at approximately $25,412,183.92. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the sale, the general counsel owned 48,181 shares in the company, valued at $7,805,322. This represents a 8.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 348,418 shares of company stock valued at $54,196,631 in the last three months. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research report on Friday, March 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $192.20.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.