Andra AP fonden Buys 79,200 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Andra AP fonden increased its Intercontinental Exchange stake by 220.6%, buying 79,200 additional shares to hold 115,100 shares valued at approximately $14.17 million. Institutional investors collectively own 89.3% of ICE.
• ICE reported quarterly adjusted earnings of $1.90 per share, exceeding the $1.84 consensus estimate, while revenue rose 4.8% year over year to $3.61 billion.
• Wall Street maintained a positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $184.17 versus its reported trading price of $152.97. Insiders, however, sold 41,179 shares worth $6.47 million over the prior 90 days.

Andra AP fonden raised its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 220.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,100 shares of the financial services provider's stock after acquiring an additional 79,200 shares during the period. Andra AP fonden's holdings in Intercontinental Exchange were worth $14,170,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Johnson Financial Group LLC increased its stake in Intercontinental Exchange by 4.0% in the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider's stock valued at $277,000 after acquiring an additional 65 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock worth $42,000 after acquiring an additional 68 shares in the last quarter. Burns J W & Co. Inc. NY raised its stake in Intercontinental Exchange by 0.6% during the first quarter. Burns J W & Co. Inc. NY now owns 12,189 shares of the financial services provider's stock worth $1,917,000 after acquiring an additional 69 shares in the last quarter. Capstone Financial Advisors Inc. lifted its holdings in shares of Intercontinental Exchange by 1.4% in the second quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider's stock worth $630,000 after acquiring an additional 69 shares during the last quarter. Finally, AlphaCentric Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 6.0% in the first quarter. AlphaCentric Advisors LLC now owns 1,256 shares of the financial services provider's stock worth $198,000 after acquiring an additional 71 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Down 1.5%

Shares of NYSE ICE opened at $152.97 on Wednesday. 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 $121.79 and a 52-week high of $176.05. The firm has a 50 day moving average price of $153.78 and a two-hundred day moving average price of $151.37. The stock has a market cap of $85.87 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 1.51 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.81 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insiders Place Their Bets

In other news, Director Martha Tirinnanzi sold 1,340 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total value of $215,954.40. Following the completion of the sale, the director owned 3,747 shares in the company, valued at $603,866.52. The trade was a 26.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher Edmonds sold 5,000 shares of Intercontinental Exchange stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the sale, the insider directly owned 14,367 shares of the company's stock, valued at approximately $2,307,196.53. This trade represents a 25.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,179 shares of company stock valued at $6,473,715 in the last 90 days. Company insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen restated a "buy" rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial reaffirmed a "strong-buy" rating and set a $218.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, September 1st. Piper Sandler lowered their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. Finally, UBS Group reiterated a "buy" rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $184.17.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc NYSE: ICE operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.

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