National Pension Service Increases Stake in Intercontinental Exchange Inc. $ICE

National Pension Service lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,355,203 shares of the financial services provider’s stock after buying an additional 39,014 shares during the quarter. National Pension Service’s holdings in Intercontinental Exchange were worth $248,639,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $28,000. Activest Wealth Management raised its holdings in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $29,000. McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange during the first quarter worth $30,000. Finally, Hilltop National Bank purchased a new position in Intercontinental Exchange in the second quarter valued at $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel owned 46,293 shares in the company, valued at $8,255,430.69. This represents a 7.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,587 shares of company stock valued at $3,989,936. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ICE. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research note on Monday, October 13th. Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. cut their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Finally, Morgan Stanley dropped their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Stock Up 1.7%

Intercontinental Exchange stock opened at $152.09 on Wednesday. The company has a market capitalization of $86.72 billion, a P/E ratio of 29.19, a PEG ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock has a 50-day simple moving average of $161.47 and a 200-day simple moving average of $173.02.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.71. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 EPS. Equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.