BDF Gestion Sells 1,810 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• BDF Gestion has reduced its holdings in Intercontinental Exchange Inc. by 9.8% during Q2, now owning 16,609 shares valued at $3,047,000.
• Several hedge funds have increased their positions in Intercontinental Exchange, with Diversified Trust Co growing its stake by 67.7% to 16,878 shares worth $3,097,000.
• Analysts maintain a positive outlook on ICE, with price targets raised by UBS Group, Piper Sandler, and Barclays, and a consensus rating of "Moderate Buy".

BDF Gestion lessened its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,609 shares of the financial services provider's stock after selling 1,810 shares during the quarter. BDF Gestion's holdings in Intercontinental Exchange were worth $3,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock valued at $1,109,780,000 after buying an additional 5,345,388 shares during the period. Nuveen LLC purchased a new stake in shares of Intercontinental Exchange during the first quarter worth about $575,383,000. Wellington Management Group LLP boosted its holdings in shares of Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after purchasing an additional 3,165,381 shares during the period. GAMMA Investing LLC boosted its holdings in shares of 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 period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 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 period. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded down $2.49 on Tuesday, hitting $167.64. 1,189,866 shares of the company's stock were exchanged, compared to its average volume of 2,989,954. The company has a 50-day simple moving average of $179.35 and a 200-day simple moving average of $175.01. The stock has a market capitalization of $95.96 billion, a PE ratio of 32.17, a PEG ratio of 2.02 and a beta of 1.10. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. 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 (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president owned 25,796 shares in the company, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 231,669 shares of company stock worth $42,333,438 in the last 90 days. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ICE. Barclays increased their target price 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. UBS Group increased their target price 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. Finally, Piper Sandler raised their price objective 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. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.