Dover Advisors LLC Makes New Investment in Intercontinental Exchange Inc. $ICE

Dover Advisors LLC purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 4,212 shares of the financial services provider’s stock, valued at approximately $710,000.

Other hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $29,000. Private Wealth Management Group LLC raised its holdings in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Knuff & Co LLC lifted its position in shares of Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares during the period. Cornerstone Planning Group LLC boosted its stake in shares of Intercontinental Exchange by 128.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 153 shares during the last quarter. Finally, Capital A Wealth Management LLC increased its position in shares of Intercontinental Exchange by 26,000.0% during the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after buying an additional 260 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ICE has been the topic of several recent analyst reports. UBS Group restated a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. Finally, TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $195.40.

Intercontinental Exchange Price Performance

ICE stock opened at $154.00 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50-day moving average is $164.58 and its 200-day moving average is $164.38. The stock has a market capitalization of $87.45 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.02. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35.

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

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 33.28%.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,861 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the transaction, the president owned 165,692 shares in the company, valued at approximately $27,339,180. This represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,651,705 shares in the company, valued at $256,014,275. This trade represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 341,036 shares of company stock worth $53,068,762 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange News Summary

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Kraken integration — Kraken has integrated with ICE Chat to expand institutional OTC crypto access, which advances ICE’s push into crypto infrastructure and could boost trading/data volumes over time. Kraken Integrates with ICE Chat
• Positive Sentiment: Fundamentals & analyst support — ICE recently reported an EPS beat and revenue above expectations, continues to pay a quarterly dividend, and retains a mostly positive analyst consensus/price targets, providing fundamental support under the stock. MarketBeat Coverage
• Neutral Sentiment: Pune office lease — ICE’s India arm leased space for a global capability center in Pune (commercial real estate move that supports operations expansion but is not material to near-term earnings). ICE leases Pune GCC space
• Neutral Sentiment: Small institutional flows — Recent filings show many small, new institutional stakes; institutional ownership remains high (~89%), but recent buys/sells cited are immaterial at scale. Institutional activity
• Negative Sentiment: Large CEO selling — CEO Jeffrey C. Sprecher sold significant blocks of shares (reported filings show ~150,000 and ~129,937-share dispositions around Feb 18). Large CEO sales are the most likely proximate cause of today’s negative sentiment. CEO SEC filing
• Negative Sentiment: CTO sale — CTO Mayur Kapani sold 15,213 shares (~$2.36M) on Feb 18, a ~19% reduction in his holding. CTO SEC filing
• Negative Sentiment: Other executive selling — Additional insider sales reported: President Benjamin Jackson (3,865 sh), CFO Warren Gardiner (2,490 sh), and insider Christopher Scott Edmonds (11,303 sh). These clustered sales amplify negative investor perception even though executives retain sizable holdings. President SEC filing CFO SEC filing Insider Edmonds SEC filing

Intercontinental Exchange 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.