Intercontinental Exchange Inc. $ICE Stock Position Reduced by Ninety One SA Pty Ltd

Ninety One SA Pty Ltd lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 54.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,924 shares of the financial services provider’s stock after selling 9,504 shares during the period. Ninety One SA Pty Ltd’s holdings in Intercontinental Exchange were worth $1,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. J. Stern & Co. LLP grew its holdings in Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after buying an additional 53,798,055 shares in the last quarter. BlackRock Inc. bought a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $714,869,000. Flossbach Von Storch SE bought a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $649,900,000. Finally, Bank of America Corp DE purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $521,557,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. UBS Group reissued a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Argus reduced their price target on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. Finally, Weiss Ratings upgraded shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $186.31.

View Our Latest Research Report on Intercontinental Exchange

Intercontinental Exchange Trading Up 1.8%

ICE stock traded up $2.77 during midday trading on Thursday, reaching $157.88. 1,772,111 shares of the company traded hands, compared to its average volume of 3,779,410. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $176.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50 day moving average of $156.10 and a 200-day moving average of $150.75. The firm has a market capitalization of $88.64 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 1.48 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company earned $1.81 EPS. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.19 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Edmonds sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the sale, the insider owned 14,367 shares in the company, valued at approximately $2,307,196.53. This represents a 25.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew Surdykowski sold 4,574 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total value of $739,935.98. Following the completion of the sale, the general counsel owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. This represents a 9.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,179 shares of company stock worth $6,473,715 in the last ninety days. Corporate insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

(Free Report)

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.

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

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