Amundi Buys 810,938 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Amundi has increased its stake in Intercontinental Exchange Inc. (ICE) by 14.7%, acquiring an additional 810,938 shares, bringing its total ownership to over 6.3 million shares valued at approximately $1.06 billion.
• Intercontinental Exchange reported a net margin of 23.92% and a quarterly revenue of $3.26 billion, significantly beating estimates and showing a year-over-year revenue growth of 9.8%.
• Several investment firms have raised their price targets for ICE, with Piper Sandler increasing its target from $180 to $202, reflecting strong analyst sentiment towards the stock.

Amundi raised its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 14.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,315,706 shares of the financial services provider's stock after purchasing an additional 810,938 shares during the quarter. Amundi owned 1.10% of Intercontinental Exchange worth $1,060,574,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ICE. Fielder Capital Group LLC grew its stake in shares of Intercontinental Exchange by 2.2% during the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock valued at $484,000 after acquiring an additional 61 shares in the last quarter. E Fund Management Co. Ltd. boosted its holdings in Intercontinental Exchange by 4.2% during the first quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 61 shares during the period. Berkeley Capital Partners LLC increased its holdings in shares of Intercontinental Exchange by 1.1% during the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after purchasing an additional 62 shares during the period. GPS Wealth Strategies Group LLC grew its stake in Intercontinental Exchange by 17.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock worth $74,000 after buying an additional 63 shares during the last quarter. Finally, Values Added Financial LLC grew its stake in shares of Intercontinental Exchange by 4.4% during the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock valued at $264,000 after purchasing an additional 64 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.5%

ICE stock traded down $0.94 during mid-day trading on Monday, reaching $173.33. The company had a trading volume of 667,186 shares, compared to its average volume of 2,965,233. The firm has a fifty day simple moving average of $181.49 and a 200 day simple moving average of $174.88. The company has a market capitalization of $99.22 billion, a price-to-earnings ratio of 33.26, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35.

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

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 1,570 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total value of $280,166.50. Following the completion of the sale, the chief financial officer owned 22,106 shares in the company, valued at $3,944,815.70. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction 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 transaction, the director directly owned 14,299 shares in the company, valued at $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. Over the last three months, insiders have sold 227,830 shares of company stock valued at $41,668,789. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Piper Sandler lifted their target price 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 upped their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently 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.