SouthState Corp Increases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

SouthState Corp grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,408 shares of the financial services provider’s stock after purchasing an additional 5,340 shares during the period. SouthState Corp’s holdings in Intercontinental Exchange were worth $6,731,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ICE. Nordea Investment Management AB grew its holdings in Intercontinental Exchange by 27.3% during the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after purchasing an additional 12,208 shares during the period. Oppenheimer Asset Management Inc. raised its position in Intercontinental Exchange by 7.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock valued at $13,956,000 after purchasing an additional 8,320 shares during the period. Allspring Global Investments Holdings LLC raised its position in Intercontinental Exchange by 9.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock valued at $158,738,000 after purchasing an additional 105,042 shares during the period. First County Bank CT raised its holdings in shares of Intercontinental Exchange by 2.7% in the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after buying an additional 100 shares during the period. Finally, RWA Wealth Partners LLC raised its holdings in shares of Intercontinental Exchange by 106.2% in the fourth quarter. RWA Wealth Partners LLC now owns 22,928 shares of the financial services provider’s stock worth $2,945,000 after buying an additional 11,809 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 1.7 %

Shares of Intercontinental Exchange stock traded down $2.14 during trading on Thursday, reaching $126.54. The company’s stock had a trading volume of 4,303,669 shares, compared to its average volume of 2,406,974. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a market cap of $72.46 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 2.11 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The company has a 50-day simple moving average of $135.42 and a two-hundred day simple moving average of $125.67.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.42%. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares in the company, valued at approximately $2,544,198.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Piper Sandler raised their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Raymond James raised their price objective on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. Finally, Barclays raised their price objective on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.08.

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.