Entropy Technologies LP Invests $4.61 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Entropy Technologies LP acquired a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,678 shares of the financial services provider's stock, valued at approximately $4,607,000.

Other large investors have also added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange during the second quarter worth $25,000. Fairscale Capital LLC purchased a new position in Intercontinental Exchange during the second quarter worth about $25,000. Wolff Wiese Magana LLC raised its holdings in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock worth $25,000 after purchasing an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange during the third quarter worth about $26,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

NYSE ICE traded down $1.01 during trading hours on Tuesday, hitting $156.08. The company had a trading volume of 2,047,451 shares, compared to its average volume of 2,571,255. Intercontinental Exchange, Inc. has a 1-year low of $108.62 and a 1-year high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $89.62 billion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08. The business has a 50 day moving average of $161.43 and a 200-day moving average of $149.49.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.55. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company's revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Monday, December 16th. Intercontinental Exchange's dividend payout ratio (DPR) is 42.65%.

Insider Buying and Selling

In other news, CAO James W. Namkung sold 1,171 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company's stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares in the company, valued at $2,666,400. 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 ninety days, insiders have sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

ICE has been the topic of a number of research analyst reports. TD Cowen started coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They set a "buy" rating and a $182.00 price objective on the stock. Piper Sandler increased their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a "hold" rating in a research note on Monday. Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Bank of America upped their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $174.13.

Intercontinental Exchange 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.