ABN Amro Investment Solutions Lowers Stock Position in Intercontinental Exchange Inc. $ICE

ABN Amro Investment Solutions lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 8.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 412,571 shares of the financial services provider’s stock after selling 35,803 shares during the period. Intercontinental Exchange comprises about 0.8% of ABN Amro Investment Solutions’ holdings, making the stock its 26th largest holding. ABN Amro Investment Solutions owned approximately 0.07% of Intercontinental Exchange worth $64,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in ICE. PNC Financial Services Group Inc. raised its holdings in Intercontinental Exchange by 4.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 200,710 shares of the financial services provider’s stock worth $31,568,000 after purchasing an additional 9,052 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new position in Intercontinental Exchange during the first quarter valued at approximately $162,000. Glenview Trust Co boosted its position in Intercontinental Exchange by 3.1% in the first quarter. Glenview Trust Co now owns 6,975 shares of the financial services provider’s stock worth $1,097,000 after purchasing an additional 213 shares during the last quarter. Long Road Investment Counsel LLC increased its stake in shares of Intercontinental Exchange by 2.3% in the 1st quarter. Long Road Investment Counsel LLC now owns 50,735 shares of the financial services provider’s stock worth $7,980,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Summit Global Investments raised its stake in Intercontinental Exchange by 10.5% during the 1st quarter. Summit Global Investments now owns 2,859 shares of the financial services provider’s stock worth $450,000 after acquiring an additional 271 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 13,425 shares of company stock worth $2,046,324 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $138.50 on Wednesday. The company has a market capitalization of $78.32 billion, a PE ratio of 20.16, a P/E/G ratio of 1.46 and a beta of 0.94. The company has a 50-day simple moving average of $140.17 and a two-hundred day simple moving average of $154.40. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data 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. The firm 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 company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 EPS. Research analysts expect that Intercontinental Exchange Inc. will post 8.07 EPS for the current fiscal year.

Analyst Ratings Changes

ICE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. Piper Sandler dropped their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Morgan Stanley cut their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Finally, Rothschild & Co Redburn set a $177.00 target price 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 issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.58.

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.