Banque Transatlantique SA Acquires Shares of 100,198 Intercontinental Exchange Inc. $ICE

Key Points

• Banque Transatlantique SA has invested approximately $15.97 million in Intercontinental Exchange Inc. by acquiring 100,198 shares of the company during the first quarter.
• CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock, resulting in a 7.14% decrease in his position, while total insider sales over the last 90 days reached approximately $42 million.
• Analysts have increased their price targets for Intercontinental Exchange, with Piper Sandler raising it to $202.00, and Barclays to $212.00, indicating a generally positive outlook on the stock.

Banque Transatlantique SA bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 100,198 shares of the financial services provider's stock, valued at approximately $15,973,000.

Several other hedge funds have also bought and sold shares of the stock. REAP Financial Group LLC raised its position in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares in the last quarter. Tsfg LLC grew its holdings in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the 4th quarter worth about $29,000. Rakuten Securities Inc. grew its stake in Intercontinental Exchange by 595.8% in 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. Finally, Activest Wealth Management lifted its position in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after purchasing an additional 162 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $0.26 during midday trading on Friday, reaching $174.26. The company's stock had a trading volume of 3,104,192 shares, compared to its average volume of 2,714,532. The firm has a market capitalization of $99.75 billion, a PE ratio of 33.45, a P/E/G ratio of 2.08 and a beta of 1.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $181.49 and a 200 day moving average of $174.83. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month 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 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for 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 firm's revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $1.52 earnings per share. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ICE shares. Barclays increased their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Piper Sandler raised their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, UBS Group raised their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Ten 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $194.92.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the sale, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the transaction, the chief executive officer directly owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. The trade was a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 227,830 shares of company stock valued at $41,668,789 in the last quarter. 1.00% of the stock is currently owned by insiders.

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.