AustralianSuper Pty Ltd Lowers Position in Intercontinental Exchange Inc. $ICE

AustralianSuper Pty Ltd decreased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 19.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,000 shares of the financial services provider’s stock after selling 60,989 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Intercontinental Exchange were worth $41,786,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Dynasty Wealth Management LLC bought a new stake in Intercontinental Exchange in the 3rd quarter valued at $897,000. Rockland Trust Co. boosted its holdings in shares of Intercontinental Exchange by 19.7% during the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after purchasing an additional 20,981 shares during the last quarter. M&G PLC boosted its holdings in shares of Intercontinental Exchange by 18.4% during the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after purchasing an additional 16,635 shares during the last quarter. McKinley Carter Wealth Services Inc. grew its position in shares of Intercontinental Exchange by 15.9% during the third quarter. McKinley Carter Wealth Services Inc. now owns 31,506 shares of the financial services provider’s stock valued at $5,308,000 after purchasing an additional 4,333 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Intercontinental Exchange by 9.4% during the third quarter. Nordea Investment Management AB now owns 73,880 shares of the financial services provider’s stock valued at $12,434,000 after purchasing an additional 6,325 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.5%

Shares of NYSE ICE opened at $155.65 on Friday. The business’s 50 day moving average is $159.50 and its two-hundred day moving average is $159.98. 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 Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The stock has a market capitalization of $88.02 billion, a P/E ratio of 22.66, a PEG ratio of 1.43 and a beta of 0.96.

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 return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the company earned $1.72 earnings per share. Intercontinental Exchange’s revenue was up 20.4% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total value of $23,250,000.00. Following the sale, the chief executive officer directly owned 1,651,705 shares in the company, valued at approximately $256,014,275. This represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the transaction, the general counsel owned 48,181 shares of the company’s stock, valued at approximately $7,805,322. The trade was a 8.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 330,835 shares of company stock worth $51,275,650 in the last three months. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ICE. Piper Sandler reiterated an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a report on Friday, March 6th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Finally, UBS Group reissued a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. 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. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $194.10.

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.