Intercontinental Exchange Inc. $ICE Stock Position Raised by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC lifted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 32.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,846 shares of the financial services provider’s stock after buying an additional 450 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Intercontinental Exchange by 13.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,556 shares of the financial services provider’s stock worth $232,000 after acquiring an additional 189 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of Intercontinental Exchange by 9.4% during the fourth quarter. Forum Financial Management LP now owns 5,068 shares of the financial services provider’s stock worth $755,000 after acquiring an additional 436 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Intercontinental Exchange by 703.3% during the fourth quarter. First Trust Advisors LP now owns 124,533 shares of the financial services provider’s stock worth $18,557,000 after acquiring an additional 109,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Intercontinental Exchange by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,843,440 shares of the financial services provider’s stock worth $274,702,000 after acquiring an additional 52,346 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer owned 13,220 shares in the company, valued at $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 1,951,705 shares in the company, valued at $357,337,668.45. This represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 443,488 shares of company stock valued at $80,323,823. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $181.12 on Monday. The firm has a market cap of $103.68 billion, a PE ratio of 34.76, a PEG ratio of 2.15 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. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a fifty day moving average price of $182.02 and a 200 day moving average price of $173.60.

Intercontinental Exchange (NYSE:ICE) last issued 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 company had revenue of $3.26 billion for 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%. Intercontinental Exchange’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 EPS. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

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.