C WorldWide Group Holding A S Cuts Stock Position in Intercontinental Exchange Inc. $ICE

Key Points

• C WorldWide Group Holding A S cut its Intercontinental Exchange stake by 16.2% in the fourth quarter, selling 222,403 shares and leaving it with 1,153,223 shares worth about $186.8 million.
• Intercontinental Exchange reported strong quarterly results, with EPS of $2.35 beating estimates and revenue of $3.67 billion, up 20.4% year over year.
• Despite some insider selling, Wall Street remains upbeat on ICE: the stock has a consensus Buy rating and a consensus target price of $194.10.

C WorldWide Group Holding A S lowered its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,153,223 shares of the financial services provider's stock after selling 222,403 shares during the period. Intercontinental Exchange makes up about 3.3% of C WorldWide Group Holding A S's portfolio, making the stock its 12th largest position. C WorldWide Group Holding A S owned approximately 0.20% of Intercontinental Exchange worth $186,776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider's stock worth $8,770,647,000 after buying an additional 413,639 shares during the last quarter. State Street Corp grew its position in shares of Intercontinental Exchange by 0.8% in the 3rd quarter. State Street Corp now owns 24,816,744 shares of the financial services provider's stock worth $4,181,125,000 after buying an additional 194,325 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider's stock worth $1,744,480,000 after buying an additional 4,067,922 shares during the last quarter. Capital World Investors grew its position in shares of Intercontinental Exchange by 15.2% in the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider's stock worth $1,184,238,000 after buying an additional 928,047 shares during the last quarter. Finally, Sands Capital Management LLC grew its position in shares of Intercontinental Exchange by 6.9% in the 3rd quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider's stock worth $956,506,000 after buying an additional 364,227 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.0%

NYSE:ICE opened at $155.76 on Monday. The company has a market cap of $88.09 billion, a PE ratio of 22.67, a P/E/G ratio of 1.44 and a beta of 0.96. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company's 50 day moving average is $160.25 and its two-hundred day moving average is $160.01.

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

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Lynn C. Martin sold 13,456 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the completion of the sale, the insider directly owned 54,319 shares in the company, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the sale, the general counsel owned 48,181 shares of the company's stock, valued at approximately $7,805,322. The trade was a 8.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 343,696 shares of company stock worth $53,397,715. Corporate insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

ICE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective on the stock in a research report on Friday, March 6th. TD Cowen reissued a "buy" rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Piper Sandler reissued an "overweight" rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Finally, Wall Street Zen raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $194.10.

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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