Amova Asset Management Americas Inc. Has $8.77 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Amova Asset Management Americas Inc. lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 38.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,774 shares of the financial services provider’s stock after selling 34,673 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Intercontinental Exchange were worth $8,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ICE. PNC Financial Services Group Inc. raised its stake in shares of Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after buying an additional 10,742 shares during the period. USS Investment Management Ltd grew its stake in shares of Intercontinental Exchange by 37.2% during the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after acquiring an additional 256,851 shares during the period. Walter Public Investments Inc. increased its holdings in Intercontinental Exchange by 13.8% in the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after acquiring an additional 15,129 shares in the last quarter. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after acquiring an additional 413,639 shares in the last quarter. Finally, OFI Invest Asset Management raised its stake in Intercontinental Exchange by 51,986.3% during the 4th quarter. OFI Invest Asset Management now owns 400,544 shares of the financial services provider’s stock worth $64,872,000 after acquiring an additional 399,775 shares during the period. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Up 1.4%

Shares of NYSE:ICE opened at $141.67 on Tuesday. The company has a market cap of $80.12 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 1.44 and a beta of 0.94. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month 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 0.63. The company has a 50-day moving average price of $140.51 and a 200 day moving average price of $154.56.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on ICE. Piper Sandler lowered their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective for the company. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Barclays lowered their target price on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group dropped their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.58.

Insider Activity

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 value of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction 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. This represents a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,425 shares of company stock worth $2,046,324 in the last three months. Corporate insiders own 0.84% of the company’s stock.

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.