UniSuper Management Pty Ltd Buys 109,136 Shares of Intercontinental Exchange Inc. $ICE

UniSuper Management Pty Ltd boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 24.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562,058 shares of the financial services provider’s stock after buying an additional 109,136 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Intercontinental Exchange were worth $91,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Norges Bank bought a new stake in Intercontinental Exchange during the 4th quarter valued at about $1,418,228,000. Wellington Management Group LLP lifted its holdings in Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after buying an additional 4,067,922 shares in the last quarter. Waverton Investment Management Ltd lifted its holdings in Intercontinental Exchange by 28,886.8% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after buying an additional 1,521,467 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Intercontinental Exchange during the 4th quarter valued at about $213,286,000. Finally, Swedbank AB lifted its holdings in Intercontinental Exchange by 43.3% during the 4th quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock valued at $571,252,000 after buying an additional 1,064,967 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Barclays reiterated an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Finally, Piper Sandler reissued 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 investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Insider Activity

In other news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. The trade was a 9.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,092 shares of company stock worth $1,860,424 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Down 1.0%

Shares of Intercontinental Exchange stock opened at $138.99 on Friday. The firm’s 50 day moving average price is $154.58 and its 200-day moving average price is $159.41. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52-week low of $136.67 and a 52-week high of $189.35. The company has a market cap of $78.60 billion, a P/E ratio of 20.23, a PEG ratio of 1.35 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data 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 firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Intercontinental Exchange Profile

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.