Intercontinental Exchange Inc. $ICE Position Lowered by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 318,989 shares of the financial services provider’s stock after selling 16,850 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.06% of Intercontinental Exchange worth $53,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Intercontinental Exchange during the second quarter worth $1,542,780,000. Sands Capital Management LLC grew its position in shares of Intercontinental Exchange by 97.3% during the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after buying an additional 2,620,310 shares during the last quarter. C WorldWide Group Holding A S raised its stake in Intercontinental Exchange by 29,199.5% during the second quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock worth $303,129,000 after acquiring an additional 1,646,562 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Intercontinental Exchange by 55.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,781,542 shares of the financial services provider’s stock worth $510,330,000 after acquiring an additional 994,316 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Intercontinental Exchange by 503.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,133,892 shares of the financial services provider’s stock valued at $191,038,000 after acquiring an additional 946,065 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ICE. Piper Sandler reiterated an “overweight” rating and set a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. UBS Group reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, January 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Stock Down 0.5%

ICE stock opened at $172.40 on Thursday. The firm’s 50-day moving average is $163.18 and its two-hundred day moving average is $166.98. The company has a market capitalization of $98.30 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm posted $1.55 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Mayur Kapani sold 5,345 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the completion of the transaction, the chief technology officer owned 65,240 shares of the company’s stock, valued at $10,221,150.80. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Judith A. Sprieser sold 3,700 shares of Intercontinental Exchange stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $157.96, for a total value of $584,452.00. Following the transaction, the director directly owned 14,469 shares in the company, valued at approximately $2,285,523.24. The trade was a 20.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 166,068 shares of company stock worth $25,470,702 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

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.