AIA Group Ltd Decreases Stake in Intercontinental Exchange Inc. $ICE

AIA Group Ltd trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 87.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,599 shares of the financial services provider’s stock after selling 64,839 shares during the period. AIA Group Ltd’s holdings in Intercontinental Exchange were worth $1,510,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth $25,000. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Dorato Capital Management acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $29,000. Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $28,000. Finally, Steph & Co. lifted its stake in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 1.4%

ICE opened at $141.67 on Tuesday. The firm has a market cap of $80.12 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.44 and a beta of 0.94. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35. The business’s 50 day moving average is $140.51 and its two-hundred day moving average is $154.56. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 earnings per share. On average, research analysts predict that Intercontinental Exchange Inc. will post 8.07 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director directly 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. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 13,425 shares of company stock valued at $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. TD Cowen lowered their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a report on Monday, June 22nd. The Goldman Sachs Group reduced their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Piper Sandler lowered their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Finally, Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.58.

Intercontinental Exchange 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.