OMERS ADMINISTRATION Corp Makes New $5.27 Million Investment in Intercontinental Exchange Inc. $ICE

OMERS ADMINISTRATION Corp acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 42,836 shares of the financial services provider’s stock, valued at approximately $5,274,000.

A number of other institutional investors have also made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in shares of Intercontinental Exchange by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after buying an additional 10,742 shares during the last quarter. BlackRock Inc. acquired a new position in Intercontinental Exchange during the second quarter worth $6,245,085,000. USS Investment Management Ltd raised its position in Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after acquiring an additional 256,851 shares in the last quarter. Walter Public Investments Inc. lifted its stake in Intercontinental Exchange by 13.8% in the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after acquiring an additional 15,129 shares during the last quarter. Finally, Vanguard Group Inc. lifted 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 acquiring an additional 413,639 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the sale, the chief technology officer owned 67,988 shares of the company’s stock, valued at $10,279,785.60. The trade was a 5.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the sale, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 17,227 shares of company stock valued at $2,598,301. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Stock Up 1.0%

NYSE ICE opened at $162.89 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market cap of $91.45 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 1.57 and a beta of 0.92. The company has a 50 day moving average of $142.80 and a 200-day moving average of $151.54. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $181.65.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the business posted $1.81 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ICE. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. TD Cowen reiterated a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a report on Monday, July 6th. UBS Group reissued a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Piper Sandler dropped their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

About Intercontinental Exchange

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.