Bryce Point Capital LLC Invests $525,000 in Intercontinental Exchange Inc. $ICE

Bryce Point Capital LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the third quarter, Holdings Channel.com reports. The fund bought 3,116 shares of the financial services provider’s stock, valued at approximately $525,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dynasty Wealth Management LLC purchased a new stake in Intercontinental Exchange during the third quarter worth about $897,000. Fifth Third Wealth Advisors LLC lifted its position in shares of Intercontinental Exchange by 37.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock valued at $2,008,000 after acquiring an additional 3,261 shares during the period. Eastern Bank lifted its position in shares of Intercontinental Exchange by 14.6% during the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock valued at $34,325,000 after acquiring an additional 25,980 shares during the period. Horizon Kinetics Asset Management LLC boosted its stake in shares of Intercontinental Exchange by 1.6% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock worth $152,603,000 after acquiring an additional 13,497 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its holdings in shares of Intercontinental Exchange by 3.0% in the 3rd quarter. Gateway Investment Advisers LLC now owns 273,010 shares of the financial services provider’s stock worth $45,997,000 after acquiring an additional 8,006 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 0.3%

Intercontinental Exchange stock opened at $169.47 on Tuesday. The stock has a 50-day moving average price of $165.44 and a 200 day moving average price of $166.21. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The stock has a market cap of $96.24 billion, a PE ratio of 29.37, a P/E/G ratio of 2.04 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. Equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 33.28%.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 4,722 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $169.19, for a total transaction of $798,915.18. Following the transaction, the director owned 9,747 shares of the company’s stock, valued at $1,649,094.93. This represents a 32.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 5,345 shares of Intercontinental Exchange stock in a transaction on Monday, December 8th. The shares were sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,221,150.80. This represents a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 168,709 shares of company stock worth $25,955,387 in the last three months. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ICE shares. JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price target (down previously from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Friday. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $195.10.

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.