Ilmarinen Mutual Pension Insurance Co Reduces Stock Holdings in Intercontinental Exchange Inc. $ICE

Ilmarinen Mutual Pension Insurance Co reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 9.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 133,300 shares of the financial services provider’s stock after selling 14,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Intercontinental Exchange were worth $21,589,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ICE. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Steph & Co. increased its stake in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Dorato Capital Management purchased a new position in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Finally, Lloyd Advisory Services LLC. purchased a new position in Intercontinental Exchange in the fourth quarter valued at approximately $30,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 12,001 shares of company stock valued at $1,847,820. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $147.93 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. The firm has a market cap of $83.66 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 1.39 and a beta of 0.96. The company’s 50 day simple moving average is $157.56 and its 200-day simple moving average is $160.16. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the firm posted $1.72 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 8.15 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on ICE. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Friday, March 6th. UBS Group restated a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Finally, Piper Sandler restated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $194.60.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.