ASR Vermogensbeheer N.V. Acquires Shares of 170,646 Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• ASR Vermogensbeheer N.V. has made a significant investment of approximately $29.44 million in Intercontinental Exchange Inc. by acquiring 170,646 shares in the first quarter, as per a recent SEC filing.
• Several institutional investors have also upped their stakes or taken new positions in Intercontinental Exchange, with 89.30% of the stock now owned by institutional investors and hedge funds.
• Intercontinental Exchange has reported an EPS of $1.81 for the last quarter, exceeding estimates, with anticipated annual earnings of 6.73 EPS. The company has also announced a quarterly dividend of $0.48 per share.

ASR Vermogensbeheer N.V. purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 170,646 shares of the financial services provider's stock, valued at approximately $29,437,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ICE. Royal Bank of Canada increased its position in Intercontinental Exchange by 132.9% during the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Intercontinental Exchange by 423.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after purchasing an additional 3,678,384 shares during the last quarter. GAMMA Investing LLC increased its position in Intercontinental Exchange by 24,394.4% during the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after purchasing an additional 2,255,507 shares during the last quarter. Bank of New York Mellon Corp increased its position in Intercontinental Exchange by 50.6% during the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after purchasing an additional 1,993,084 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Intercontinental Exchange by 26.6% during the fourth quarter. Janus Henderson Group PLC now owns 5,721,604 shares of the financial services provider's stock worth $852,578,000 after purchasing an additional 1,200,965 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the transaction, the chief executive officer directly owned 2,101,705 shares in the company, valued at $376,667,570.10. This represents a 6.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO James W. Namkung sold 612 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the transaction, the chief accounting officer owned 13,220 shares in the company, valued at $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,913 shares of company stock worth $40,671,107. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 0.8%

ICE traded down $1.49 during trading hours on Friday, reaching $186.53. 2,783,624 shares of the stock traded hands, compared to its average volume of 2,563,729. The firm's fifty day simple moving average is $181.66 and its two-hundred day simple moving average is $172.65. The company has a market cap of $106.77 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 2.21 and a beta of 1.11. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. 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 (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 for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates 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 was up 9.8% on a year-over-year basis. During the same period last year, the business earned $1.52 EPS. As a group, analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.0%. Intercontinental Exchange's payout ratio is 36.85%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group upped their price target 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. Barclays increased their price objective 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. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and an average target price of $194.92.

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.