Compagnie Lombard Odier SCmA Cuts Holdings in Intercontinental Exchange Inc. $ICE

Compagnie Lombard Odier SCmA lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 7.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 627,626 shares of the financial services provider’s stock after selling 49,957 shares during the quarter. Intercontinental Exchange comprises 1.2% of Compagnie Lombard Odier SCmA’s portfolio, making the stock its 19th largest holding. Compagnie Lombard Odier SCmA’s holdings in Intercontinental Exchange were worth $105,742,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. Princeton Global Asset Management LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $28,000. Westside Investment Management Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter worth $29,000. Private Wealth Management Group LLC increased its holdings in Intercontinental Exchange by 59.5% in the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. Knuff & Co LLC raised its stake in Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Finally, Gables Capital Management Inc. raised its stake in Intercontinental Exchange by 100.0% in the second quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock valued at $46,000 after buying an additional 125 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $163.20, for a total value of $261,120.00. Following the completion of the sale, the senior vice president owned 24,196 shares in the company, valued at approximately $3,948,787.20. This trade represents a 6.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the completion of the sale, the chief executive officer directly owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. The trade was a 7.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 168,709 shares of company stock valued at $25,955,387. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on ICE shares. Barclays set a $193.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler restated an “overweight” rating and set a $195.00 price objective (down previously from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and an average price target of $195.10.

Intercontinental Exchange Stock Performance

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

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the business earned $1.52 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

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

About Intercontinental Exchange

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.