Cullen Frost Bankers Inc. Purchases 16,991 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Cullen Frost Bankers Inc. raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 18.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,903 shares of the financial services provider’s stock after acquiring an additional 16,991 shares during the period. Cullen Frost Bankers Inc.’s holdings in Intercontinental Exchange were worth $14,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ICE. Everpar Advisors LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $345,000. Gryphon Financial Partners LLC increased its position in Intercontinental Exchange by 38.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,356 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 1,220 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its stake in shares of Intercontinental Exchange by 5.6% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 4,114 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 220 shares during the period. Simmons Bank raised its position in Intercontinental Exchange by 4.1% in the 4th quarter. Simmons Bank now owns 27,832 shares of the financial services provider’s stock worth $3,574,000 after purchasing an additional 1,090 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Intercontinental Exchange by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,009,313 shares of the financial services provider’s stock worth $386,486,000 after purchasing an additional 78,138 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,182 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the transaction, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James W. Namkung sold 1,182 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The disclosure for this sale can be found here. Insiders sold 157,832 shares of company stock valued at $21,499,127 in the last three months. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Stock Down 0.2 %

Intercontinental Exchange stock traded down $0.33 during midday trading on Wednesday, hitting $133.39. 1,397,428 shares of the company’s stock were exchanged, compared to its average volume of 2,406,588. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The company has a market cap of $76.51 billion, a PE ratio of 30.59, a P/E/G ratio of 2.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50-day moving average of $134.78 and a two-hundred day moving average of $126.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the business earned $1.41 EPS. The company’s revenue was up 20.8% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s payout ratio is currently 41.28%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ICE shares. Bank of America dropped their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Barclays dropped their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Finally, Keefe, Bruyette & Woods lowered their price target on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $147.92.

About Intercontinental Exchange

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.