Intercontinental Exchange Inc. $ICE Stock Position Boosted by L1 Capital International Pty Ltd

L1 Capital International Pty Ltd boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 369.5% in the 4th quarter, Holdings Channel reports. The firm owned 657,279 shares of the financial services provider’s stock after purchasing an additional 517,278 shares during the period. Intercontinental Exchange accounts for about 5.5% of L1 Capital International Pty Ltd’s investment portfolio, making the stock its 8th biggest holding. L1 Capital International Pty Ltd’s holdings in Intercontinental Exchange were worth $106,453,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the period. State Street Corp grew its holdings in shares of Intercontinental Exchange by 0.8% during the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider’s stock worth $4,181,125,000 after buying an additional 194,325 shares during the last quarter. Wellington Management Group LLP increased its position in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after acquiring an additional 4,067,922 shares during the period. Norges Bank purchased a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $1,418,228,000. Finally, Capital World Investors lifted its position in Intercontinental Exchange by 12.5% during the 4th quarter. Capital World Investors now owns 7,907,399 shares of the financial services provider’s stock worth $1,280,688,000 after acquiring an additional 878,435 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.9%

Shares of Intercontinental Exchange stock opened at $140.26 on Friday. Intercontinental Exchange Inc. has a 52-week low of $136.67 and a 52-week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company’s 50-day simple moving average is $154.22 and its 200-day simple moving average is $159.27. The firm has a market cap of $79.32 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $1.72 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 12,092 shares of company stock valued at $1,860,424. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on ICE. UBS Group restated a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday. Barclays reiterated an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Piper Sandler reiterated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $193.00.

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.