BNP Paribas Has $2.25 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

• BNP Paribas increased its stake in Intercontinental Exchange by 144.5% in the fourth quarter, ending with 13,908 shares valued at about $2.25 million.
• Several other institutional investors also adjusted positions in ICE, and hedge funds and institutions now own 89.3% of the company’s stock.
• ICE reported better-than-expected quarterly results, with EPS of $2.35 and revenue of $3.67 billion, while analysts maintain a Buy consensus and average price target of $194.60.

BNP Paribas boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 144.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,908 shares of the financial services provider's stock after acquiring an additional 8,220 shares during the quarter. BNP Paribas' holdings in Intercontinental Exchange were worth $2,253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BW Gestao de Investimentos Ltda. acquired a new stake in Intercontinental Exchange during the 4th quarter valued at $11,996,000. Arcadia Investment Management Corp MI raised its position in Intercontinental Exchange by 0.5% in the 4th quarter. Arcadia Investment Management Corp MI now owns 91,137 shares of the financial services provider's stock valued at $14,761,000 after purchasing an additional 451 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in Intercontinental Exchange by 1.5% in the fourth quarter. New Mexico Educational Retirement Board now owns 26,270 shares of the financial services provider's stock worth $4,255,000 after purchasing an additional 400 shares in the last quarter. SCS Capital Management LLC boosted its stake in Intercontinental Exchange by 30.4% in the fourth quarter. SCS Capital Management LLC now owns 1,851 shares of the financial services provider's stock worth $300,000 after purchasing an additional 431 shares in the last quarter. Finally, Clear Harbor Asset Management LLC grew its holdings in shares of Intercontinental Exchange by 19.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 1,602 shares of the financial services provider's stock worth $259,000 after purchasing an additional 262 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ICE. UBS Group reaffirmed a "buy" rating and issued a $205.00 price target on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Piper Sandler restated an "overweight" rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 target price for the company. Finally, Barclays reiterated an "overweight" rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $194.60.

Intercontinental Exchange Stock Down 1.7%

Shares of NYSE ICE opened at $142.53 on Wednesday. The firm has a market capitalization of $80.60 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.39 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 1 year low of $136.67 and a 1 year high of $189.35. The firm's 50-day moving average is $157.12 and its 200-day moving average is $160.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm posted $1.72 earnings per share. Intercontinental Exchange's revenue for the quarter was up 20.4% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Insider Buying and Selling

In other news, Director Sharon Bowen sold 667 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares of the company's stock, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,001 shares of company stock worth $1,847,820. Company insiders own 0.84% of the company's stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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