AustralianSuper Pty Ltd Acquires New Position in Intercontinental Exchange Inc. $ICE

AustralianSuper Pty Ltd acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 335,839 shares of the financial services provider’s stock, valued at approximately $61,616,000. AustralianSuper Pty Ltd owned approximately 0.06% of Intercontinental Exchange at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Tritonpoint Wealth LLC increased its stake in Intercontinental Exchange by 1.4% in the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 58 shares during the period. RB Capital Management LLC increased its stake in Intercontinental Exchange by 1.3% in the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock worth $841,000 after purchasing an additional 59 shares during the period. Chemistry Wealth Management LLC increased its stake in Intercontinental Exchange by 0.8% in the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock worth $1,440,000 after purchasing an additional 60 shares during the period. Institute for Wealth Management LLC. increased its stake in Intercontinental Exchange by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock worth $597,000 after purchasing an additional 60 shares during the period. Finally, Fielder Capital Group LLC increased its stake in Intercontinental Exchange by 2.2% in the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 61 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of analyst reports. Morgan Stanley decreased their price target on 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. Raymond James Financial raised 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday. Barclays reaffirmed an “overweight” rating and issued a $201.00 price target (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Finally, Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. One 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.60.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the sale, the senior vice president directly owned 25,796 shares of the company’s stock, valued at $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,162 shares of company stock valued at $43,642,652 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $157.71 on Monday. The firm has a market cap of $90.28 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.20 and a beta of 1.08. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The business’s 50 day moving average price is $168.26 and its 200-day moving average price is $173.68. 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 (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.52 EPS. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

About Intercontinental Exchange

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.