Intercontinental Exchange Inc. $ICE Shares Purchased by USS Investment Management Ltd

USS Investment Management Ltd raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 8.8% in the fourth quarter, HoldingsChannel reports. The firm owned 690,069 shares of the financial services provider’s stock after acquiring an additional 55,555 shares during the period. USS Investment Management Ltd’s holdings in Intercontinental Exchange were worth $111,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of Intercontinental Exchange by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after purchasing an additional 10,742 shares during the period. M&G PLC increased its holdings in shares of Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after purchasing an additional 16,635 shares during the period. Dover Advisors LLC acquired a new position in shares of Intercontinental Exchange during the third quarter valued at $710,000. Advisors Preferred LLC increased its holdings in shares of Intercontinental Exchange by 284.5% during the third quarter. Advisors Preferred LLC now owns 43,645 shares of the financial services provider’s stock valued at $7,098,000 after purchasing an additional 32,295 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Sharon Bowen sold 667 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 12,092 shares of company stock worth $1,860,424. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ICE shares. Piper Sandler reissued an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Friday, March 6th. UBS Group reissued a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target on the stock. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Intercontinental Exchange Trading Down 0.2%

Shares of ICE stock opened at $140.26 on Monday. The stock has a 50-day simple moving average of $154.22 and a 200 day simple moving average of $159.32. Intercontinental Exchange Inc. has a fifty-two week low of $136.67 and a fifty-two week high of $189.35. The stock has a market capitalization of $79.32 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.35 and a beta of 0.92. 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 (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the business posted $1.72 earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Intercontinental Exchange Company 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.