Intercontinental Exchange, Inc. (NYSE:ICE) Stake Boosted by Parsifal Capital Management LP
Parsifal Capital Management LP grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 120.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 590,420 shares of the financial services provider’s stock after buying an additional 322,995 shares during the period. Intercontinental Exchange accounts for 5.0% of Parsifal Capital Management LP’s portfolio, making the stock its 9th biggest position. Parsifal Capital Management LP owned approximately 0.11% of Intercontinental Exchange worth $66,765,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in ICE. RB Capital Management LLC boosted its holdings in Intercontinental Exchange by 3.2% in the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 126 shares in the last quarter. United Bank boosted its holdings in Intercontinental Exchange by 2.7% in the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after acquiring an additional 422 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Intercontinental Exchange by 13.5% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 220 shares in the last quarter. Sei Investments Co. boosted its holdings in Intercontinental Exchange by 31.5% in the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock worth $27,077,000 after acquiring an additional 49,081 shares in the last quarter. Finally, Prudential PLC bought a new stake in Intercontinental Exchange in the first quarter worth $1,679,000. 87.91% of the stock is owned by hedge funds and other institutional investors.
Intercontinental Exchange Stock Performance
Intercontinental Exchange stock traded up $0.40 during mid-day trading on Friday, reaching $114.24. 3,492,138 shares of the stock traded hands, compared to its average volume of 2,306,132. The stock has a market capitalization of $63.86 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 2.76 and a beta of 0.97. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 12-month low of $94.16 and a 12-month high of $118.79. The business’s 50-day moving average is $110.02 and its 200-day moving average is $111.92.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.06. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Intercontinental Exchange had a return on equity of 13.06% and a net margin of 25.17%. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.58 EPS for the current fiscal year.
Intercontinental Exchange Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 14th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, December 13th. Intercontinental Exchange’s payout ratio is 38.98%.
Insiders Place Their Bets
In other Intercontinental Exchange news, President Benjamin Jackson sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $117.14, for a total value of $234,280.00. Following the completion of the sale, the president now owns 125,647 shares in the company, valued at $14,718,289.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Intercontinental Exchange news, President Benjamin Jackson sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $117.14, for a total value of $234,280.00. Following the completion of the sale, the president now owns 125,647 shares in the company, valued at $14,718,289.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Warren Gardiner sold 500 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $115.43, for a total value of $57,715.00. Following the sale, the chief financial officer now owns 15,525 shares of the company’s stock, valued at approximately $1,792,050.75. The disclosure for this sale can be found here. Insiders sold a total of 99,210 shares of company stock worth $11,188,052 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
ICE has been the topic of a number of research analyst reports. Barclays lowered their price target on Intercontinental Exchange from $122.00 to $120.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 10th. Rosenblatt Securities lowered their price target on Intercontinental Exchange from $168.00 to $154.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Raymond James lowered their price target on Intercontinental Exchange from $137.00 to $135.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 5th. UBS Group upped their price target on Intercontinental Exchange from $135.00 to $140.00 and gave the company a “buy” rating in a report on Friday, September 8th. Finally, Bank of America lowered their price target on Intercontinental Exchange from $141.00 to $140.00 in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.83.
Read Our Latest Stock Analysis on Intercontinental Exchange
Intercontinental Exchange Profile (Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange, Inc. (NYSE:ICE – Free Report).
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