Gulf International Bank UK Ltd Has $7.27 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Gulf International Bank UK Ltd trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,258 shares of the financial services provider’s stock after selling 1,992 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Intercontinental Exchange were worth $7,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Wolff Wiese Magana LLC boosted its stake in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Intercontinental Exchange in the third quarter valued at $26,000. Financial Management Professionals Inc. grew its position in shares of Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares during the period. Fairscale Capital LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $25,000. Finally, New Millennium Group LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $25,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the sale, the director now owns 3,958 shares in the company, valued at $629,242.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Citigroup raised their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Bank of America upped their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Intercontinental Exchange from $169.00 to $160.00 and set a “hold” rating for the company in a research note on Friday. Finally, Piper Sandler raised their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $173.93.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $154.49 on Tuesday. The stock has a market cap of $88.70 billion, a price-to-earnings ratio of 36.61, a P/E/G ratio of 2.33 and a beta of 1.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a twelve month low of $107.40 and a twelve month high of $167.99. The company’s fifty day moving average is $161.86 and its 200 day moving average is $148.61.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. Intercontinental Exchange’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 earnings per share. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.13 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 1.17%. Intercontinental Exchange’s payout ratio is currently 42.65%.

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.