ASR Vermogensbeheer N.V. Acquires 4,494 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Intercontinental Exchange Inc. (ICE) by 2.6% during the 2nd quarter, acquiring an additional 4,494 shares worth approximately $32.1 million.
• Several institutional investors, including Tsfg LLC and Rakuten Securities Inc., significantly raised their stakes in ICE, indicating strong institutional interest as 89.3% of the company's stock is owned by institutional investors.
• ICE reported a quarterly earnings per share (EPS) of $1.81, exceeding the consensus estimate by $0.04, while the company's revenue reached $3.26 billion, marking a 9.8% increase year-over-year.

ASR Vermogensbeheer N.V. grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 175,140 shares of the financial services provider's stock after purchasing an additional 4,494 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Intercontinental Exchange were worth $32,132,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Tsfg LLC raised its stake in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Activest Wealth Management raised its stake in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after acquiring an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC bought a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $31,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 3.4%

ICE stock opened at $162.71 on Thursday. The firm's fifty day simple moving average is $177.43 and its 200-day simple moving average is $174.82. The company has a market capitalization of $93.14 billion, a P/E ratio of 31.23, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35.

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

Insiders Place Their Bets

In related news, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the business's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares of the company's stock, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,874 shares of company stock worth $42,187,714. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ICE shares. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Barclays boosted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, September 25th. Finally, Morgan Stanley dropped their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $197.00.

Intercontinental Exchange 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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