Bancreek Capital Management LP Acquires 5,563 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Bancreek Capital Management LP grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 10.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,667 shares of the financial services provider's stock after acquiring an additional 5,563 shares during the quarter. Intercontinental Exchange comprises approximately 6.0% of Bancreek Capital Management LP's portfolio, making the stock its 5th biggest position. Bancreek Capital Management LP's holdings in Intercontinental Exchange were worth $9,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider's stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. Legal & General Group Plc lifted its stake in Intercontinental Exchange by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider's stock valued at $609,609,000 after acquiring an additional 191,763 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Intercontinental Exchange by 10.4% during the 2nd quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider's stock valued at $413,298,000 after acquiring an additional 284,664 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Intercontinental Exchange by 0.7% in the first quarter. Bessemer Group Inc. now owns 2,795,043 shares of the financial services provider's stock worth $384,122,000 after acquiring an additional 19,127 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Intercontinental Exchange by 11.1% in the third quarter. Raymond James & Associates now owns 2,535,785 shares of the financial services provider's stock worth $407,348,000 after acquiring an additional 253,324 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.3 %

Shares of ICE traded down $0.44 during trading hours on Wednesday, hitting $155.62. The company had a trading volume of 854,633 shares, compared to its average volume of 2,563,353. Intercontinental Exchange, Inc. has a one year low of $108.94 and a one year high of $167.99. The company's fifty day moving average price is $161.33 and its two-hundred day moving average price is $149.66. The company has a market capitalization of $89.35 billion, a PE ratio of 37.09, a price-to-earnings-growth ratio of 2.60 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

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

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange's dividend payout ratio (DPR) is presently 42.65%.

Analysts Set New Price Targets

ICE has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. TD Cowen started coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a "buy" rating and a $182.00 price objective for the company. Morgan Stanley raised their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Piper Sandler upped 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. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares in the company, 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 document filed with the SEC, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the sale, the director now directly owns 26,908 shares in the company, valued at $4,323,846.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,489 shares of company stock worth $1,202,259. Insiders own 1.10% of the company's stock.

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.