AG2R LA Mondiale Gestion D Actifs Invests $3.84 Million in Intercontinental Exchange Inc. $ICE

Key Points

• AG2R LA Mondiale Gestion D Actifs invested approximately $3.84 million in Intercontinental Exchange Inc. by acquiring 21,331 shares in the first quarter of the year.
• Intercontinental Exchange reported $1.81 earnings per share (EPS) for the latest quarter, surpassing analyst expectations and showing a 9.8% year-over-year revenue growth.
• Major investment firms have increased their positions in Intercontinental Exchange, with recent boosts of over 100% to 4,050% from various hedge funds and institutional investors.

AG2R LA Mondiale Gestion D Actifs bought a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 21,331 shares of the financial services provider's stock, valued at approximately $3,835,000.

Other large investors have also recently modified their holdings of the company. REAP Financial Group LLC boosted its position in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares during the period. Tsfg LLC boosted its position in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares during the period. Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. boosted its position in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares during the period. Finally, Activest Wealth Management boosted its position in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 162 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Up 2.3%

Shares of Intercontinental Exchange stock opened at $176.12 on Friday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm has a market cap of $100.81 billion, a PE ratio of 33.80, a PEG ratio of 2.05 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day simple moving average of $180.80 and a two-hundred day simple moving average of $174.95.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business posted $1.52 earnings per share. Intercontinental Exchange's revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, Director Martha A. Tirinnanzi sold 610 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $179.76, for a total value of $109,653.60. Following the completion of the sale, the director directly owned 3,519 shares in the company, valued at approximately $632,575.44. The trade was a 14.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the sale, the director owned 14,299 shares of the company's stock, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 229,130 shares of company stock worth $41,890,900. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on ICE. UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Barclays raised their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.

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