Amundi Boosts Stock Position in Intercontinental Exchange Inc. $ICE

Amundi grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 49.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,997,079 shares of the financial services provider's stock after purchasing an additional 1,656,220 shares during the quarter. Amundi owned approximately 0.88% of Intercontinental Exchange worth $785,941,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ICE. EverSource Wealth Advisors LLC raised its stake in shares of Intercontinental Exchange by 20.1% in the first quarter. EverSource Wealth Advisors LLC now owns 6,021 shares of the financial services provider's stock valued at $947,000 after buying an additional 1,007 shares during the period. Resources Management Corp CT ADV raised its stake in Intercontinental Exchange by 18.7% in the 1st quarter. Resources Management Corp CT ADV now owns 14,618 shares of the financial services provider's stock valued at $2,299,000 after acquiring an additional 2,299 shares during the period. Empowered Funds LLC raised its stake in Intercontinental Exchange by 59.3% in the 1st quarter. Empowered Funds LLC now owns 34,835 shares of the financial services provider's stock valued at $5,479,000 after acquiring an additional 12,973 shares during the period. Evelyn Partners Asset Management Ltd lifted its holdings in Intercontinental Exchange by 49.3% during the first quarter. Evelyn Partners Asset Management Ltd now owns 839 shares of the financial services provider's stock valued at $132,000 after purchasing an additional 277 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Intercontinental Exchange by 1.8% during the first quarter. The Manufacturers Life Insurance Company now owns 713,468 shares of the financial services provider's stock valued at $112,214,000 after purchasing an additional 12,939 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $153.02 on Wednesday. The company has a 50 day moving average of $139.33 and a 200 day moving average of $153.81. 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 market cap of $86.53 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.54 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.

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, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.01 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the business'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 completion of the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. The trade was 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 through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the company's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares in the company, valued at $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,425 shares of company stock valued at $2,046,324 in the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ICE. TD Cowen reduced their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a "buy" rating for the company in a research note on Monday, June 22nd. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. Morgan Stanley reduced their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating for the company in a research note on Friday, July 10th. Piper Sandler lowered their target price 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. Finally, UBS Group dropped their target price on Intercontinental Exchange from $205.00 to $190.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.

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