National Pension Service Increases Stake in Intercontinental Exchange Inc. $ICE

National Pension Service lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,173,317 shares of the financial services provider’s stock after buying an additional 39,430 shares during the quarter. National Pension Service’s holdings in Intercontinental Exchange were worth $144,447,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ICONIQ Capital LLC lifted its stake in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the last quarter. Mission Wealth Management LP boosted its holdings in Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after acquiring an additional 62 shares during the period. Johnson Financial Group LLC grew its position in Intercontinental Exchange by 4.0% during the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 65 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in Intercontinental Exchange by 33.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 68 shares during the period. Finally, Burns J W & Co. Inc. NY lifted its position in Intercontinental Exchange by 0.6% in the first quarter. Burns J W & Co. Inc. NY now owns 12,189 shares of the financial services provider’s stock valued at $1,917,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.5%

Shares of NYSE ICE opened at $155.73 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $176.59. The firm has a market capitalization of $87.43 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The firm has a fifty day simple moving average of $150.64 and a two-hundred day simple moving average of $151.71.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 EPS. Equities analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Analyst Ratings Changes

ICE has been the topic of several analyst reports. Barclays reaffirmed an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Piper Sandler cut their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. TD Cowen restated a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. The Goldman Sachs Group lowered their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Morgan Stanley reduced their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.17.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total transaction of $256,000.00. Following the sale, the senior vice president directly owned 17,463 shares of the company’s stock, valued at approximately $2,794,080. The trade was a 8.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew Surdykowski sold 4,574 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total value of $739,935.98. Following the transaction, the general counsel owned 43,065 shares in the company, valued at $6,966,625.05. This trade represents a 9.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,579 shares of company stock valued at $6,217,715 over the last ninety days. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.