Capital World Investors Raises Position in Intercontinental Exchange Inc. $ICE

Capital World Investors grew its position in Intercontinental Exchange Inc. (NYSE:ICE) by 12.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,907,399 shares of the financial services provider’s stock after buying an additional 878,435 shares during the period. Capital World Investors’ holdings in Intercontinental Exchange were worth $1,280,688,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. ICONIQ Capital LLC raised its holdings in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after buying an additional 56 shares during the last quarter. Mechanics Financial Corp raised its holdings in Intercontinental Exchange by 1.0% in the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after buying an additional 60 shares during the last quarter. Mission Wealth Management LP raised its holdings in Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after buying an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in Intercontinental Exchange by 1.9% in the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after buying an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 63 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,001 shares of company stock valued at $1,847,820 in the last ninety days. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ICE. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. Barclays reissued an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. UBS Group reissued a “buy” rating and set a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Finally, Piper Sandler reissued an “overweight” rating and set a $211.00 price objective (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, eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.60.

Intercontinental Exchange Stock Down 0.1%

ICE opened at $141.36 on Monday. Intercontinental Exchange Inc. has a twelve month low of $136.67 and a twelve month high of $189.35. The stock has a market capitalization of $79.94 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.36 and a beta of 0.92. 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 firm has a 50 day moving average price of $155.83 and a 200-day moving average price of $159.78.

Intercontinental Exchange (NYSE:ICE) last announced its 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. 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 during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the company earned $1.72 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

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.