KBC Group NV Sells 67,275 Shares of Intercontinental Exchange Inc. $ICE

KBC Group NV cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICEFree Report) by 30.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,602 shares of the financial services provider’s stock after selling 67,275 shares during the quarter. KBC Group NV’s holdings in Intercontinental Exchange were worth $24,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth about $25,000. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $28,000. Dorato Capital Management purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $29,000. Swiss RE Ltd. bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Finally, Steph & Co. lifted its position in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. TD Cowen lowered their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Barclays cut their price objective on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Piper Sandler decreased their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $181.58.

Check Out Our Latest Analysis on Intercontinental Exchange

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $138.50 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The business’s 50 day simple moving average is $140.17 and its two-hundred day simple moving average is $154.40. The stock has a market capitalization of $78.32 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange Inc. will post 8.07 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the 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 sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,425 shares of company stock worth $2,046,324 over the last ninety days. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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