Altrafin AG Invests $9.29 Million in Intercontinental Exchange Inc. $ICE

Key Points

• Altrafin AG opened a new position in Intercontinental Exchange, buying 57,328 shares worth about $9.29 million. The stake makes up roughly 2.9% of Altrafin’s portfolio.
• Insider selling continued at ICE, with CFO Warren Gardiner and General Counsel Andrew J. Surdykowski both selling shares in recent transactions. Over the last three months, insiders have sold 12,092 shares valued at about $1.86 million.
• ICE reported strong quarterly results, including EPS of $2.35 versus $2.23 expected and revenue of $3.67 billion versus $2.88 billion expected. Analysts remain constructive, with a consensus rating of Moderate Buy and an average target price of $193.

Altrafin AG acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 57,328 shares of the financial services provider's stock, valued at approximately $9,285,000. Intercontinental Exchange makes up approximately 2.9% of Altrafin AG's portfolio, making the stock its 13th biggest holding.

Several other large investors have also modified their holdings of the stock. Aptus Capital Advisors LLC boosted its stake in shares of Intercontinental Exchange by 2.9% during the 4th quarter. Aptus Capital Advisors LLC now owns 108,439 shares of the financial services provider's stock worth $17,563,000 after acquiring an additional 3,016 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in shares of Intercontinental Exchange by 31.3% during the 4th quarter. Kestra Advisory Services LLC now owns 33,270 shares of the financial services provider's stock worth $5,388,000 after acquiring an additional 7,932 shares in the last quarter. Transamerica Financial Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 57.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 312 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 114 shares in the last quarter. Fairbanks Capital Management Inc. lifted its holdings in shares of Intercontinental Exchange by 2.5% in the fourth quarter. Fairbanks Capital Management Inc. now owns 10,133 shares of the financial services provider's stock valued at $1,641,000 after purchasing an additional 247 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Intercontinental Exchange by 6.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,986 shares of the financial services provider's stock valued at $322,000 after purchasing an additional 118 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm'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 owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,092 shares of company stock valued at $1,860,424 in the last three months. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

ICE opened at $140.26 on Friday. The stock has a market cap of $79.32 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.35 and a beta of 0.92. Intercontinental Exchange Inc. has a 1 year low of $136.67 and a 1 year 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 stock has a fifty day moving average price of $154.22 and a 200 day moving average price of $159.27.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 earnings per share. Analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on ICE shares. Piper Sandler restated an "overweight" rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 target price for the company in a report on Friday, March 6th. Barclays restated an "overweight" rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. UBS Group reissued a "buy" rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Finally, Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average target price of $193.00.

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.

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