ABN AMRO Bank N.V. Decreases Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• ABN AMRO Bank N.V. reduced its stake in Intercontinental Exchange by 21% in the fourth quarter, selling 9,906 shares and leaving it with 37,378 shares worth about $6.03 million.
• Intercontinental Exchange reported strong quarterly results, with EPS of $2.35 beating estimates and revenue of $3.67 billion, up 20.4% year over year.
• Wall Street remains broadly positive on ICE, with a consensus Buy rating and an average price target of $194.10 despite recent insider selling.

ABN AMRO Bank N.V. trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 21.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,378 shares of the financial services provider's stock after selling 9,906 shares during the period. ABN AMRO Bank N.V.'s holdings in Intercontinental Exchange were worth $6,031,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Steph & Co. increased its stake in Intercontinental Exchange by 104.7% in the 4th 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 period. Dorato Capital Management purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Finally, Caitlin John LLC purchased a new position in Intercontinental Exchange in the 3rd quarter worth approximately $32,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

ICE opened at $155.76 on Monday. 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 Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The stock has a market capitalization of $88.09 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96. The stock's 50 day moving average price is $160.25 and its 200-day moving average price is $160.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. The business's revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 11,303 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the transaction, the insider directly owned 14,266 shares of the company's stock, valued at approximately $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total value of $2,358,319.26. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at $10,055,992.38. This represents a 19.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 343,696 shares of company stock valued at $53,397,715. 0.84% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ICE. Piper Sandler reaffirmed an "overweight" rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price target on the stock in a research note on Friday, March 6th. Barclays reaffirmed an "overweight" rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Weiss Ratings cut Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $194.10.

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.

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