Varma Mutual Pension Insurance Co Has $19.76 Million Holdings in Intercontinental Exchange Inc. $ICE

Varma Mutual Pension Insurance Co increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,001 shares of the financial services provider’s stock after purchasing an additional 14,100 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Intercontinental Exchange were worth $19,759,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dynasty Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter worth $897,000. Rockland Trust Co. lifted its holdings in Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after acquiring an additional 20,981 shares in the last quarter. Eastern Bank lifted its holdings in Intercontinental Exchange by 14.6% during the third quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after acquiring an additional 25,980 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in Intercontinental Exchange by 37.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock worth $2,008,000 after acquiring an additional 3,261 shares in the last quarter. Finally, M&G PLC lifted its holdings in Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock worth $17,988,000 after acquiring an additional 16,635 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $155.04 on Monday. The firm has a market cap of $87.82 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 1.60 and a beta of 0.96. The stock’s 50-day moving average is $160.21 and its 200-day moving average is $160.01. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. 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 (NYSE:ICE) last issued 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. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 earnings per share. Equities analysts predict that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is 30.28%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ICE. Barclays reiterated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday. Raymond James Financial reiterated a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Morgan Stanley lifted their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $194.10.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the sale, the chief financial officer directly owned 27,679 shares in the company, valued at $4,262,566. The trade was a 8.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Benjamin Jackson sold 3,865 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the sale, the president directly owned 165,304 shares in the company, valued at approximately $25,412,183.92. This represents a 2.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 348,418 shares of company stock valued at $54,196,631. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange 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.