Varma Mutual Pension Insurance Co Takes Position in Intercontinental Exchange Inc. $ICE

Varma Mutual Pension Insurance Co purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 128,201 shares of the financial services provider’s stock, valued at approximately $15,783,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares in the last quarter. Empowered Funds LLC boosted its stake in Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after acquiring an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 289 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after purchasing an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in shares of Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after purchasing an additional 6,373 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total transaction of $389,343.30. Following the sale, the chief financial officer directly owned 22,698 shares in the company, valued at approximately $3,547,697.40. The trade was a 9.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 20,200 shares of company stock worth $3,035,385 in the last three months. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $161.29 on Monday. The company has a market cap of $90.55 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 1.57 and a beta of 0.92. The business’s fifty day simple moving average is $142.34 and its two-hundred day simple moving average is $151.54. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $181.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 earnings per share. Research analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on ICE shares. Piper Sandler lowered their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a report on Monday, July 6th. UBS Group reiterated a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen reissued a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. One 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

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.