OMERS ADMINISTRATION Corp lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 29.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,538 shares of the financial services provider’s stock after acquiring an additional 6,059 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Intercontinental Exchange were worth $4,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange during the 4th quarter worth approximately $25,000. Steph & Co. boosted its stake in shares of Intercontinental Exchange by 104.7% in the 4th 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. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Finally, Dorato Capital Management acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $29,000. 89.30% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Intercontinental Exchange
In related news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,425 shares of company stock valued at $2,046,324 over the last quarter. 0.84% of the stock is currently owned by company insiders.
Intercontinental Exchange Price Performance
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the business posted $1.72 EPS. Intercontinental Exchange’s quarterly revenue was up 20.4% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. The Goldman Sachs Group decreased their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. TD Cowen dropped their price objective on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Morgan Stanley decreased their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Finally, UBS Group dropped their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $181.58.
Check Out Our Latest Analysis on ICE
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.
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