Canada Pension Plan Investment Board Has $138.57 Million Stock Position in Intercontinental Exchange Inc. $ICE

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Intercontinental Exchange Inc. by 25.6% in the first quarter, selling 276,792 shares.
• Intercontinental Exchange reported a 9.8% increase in revenue compared to the same quarter last year, with earnings per share (EPS) of $1.81, exceeding analysts' expectations.
• Several large investors notably increased their holdings in Intercontinental Exchange, with Price T Rowe Associates expanding its share by 491.3% in the first quarter.

Canada Pension Plan Investment Board trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 25.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 803,289 shares of the financial services provider's stock after selling 276,792 shares during the quarter. Canada Pension Plan Investment Board owned 0.14% of Intercontinental Exchange worth $138,567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Fielder Capital Group LLC boosted its position in shares of Intercontinental Exchange by 2.2% during the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after purchasing an additional 61 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in Intercontinental Exchange by 4.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock valued at $259,000 after acquiring an additional 61 shares in the last quarter. Berkeley Capital Partners LLC lifted its position in Intercontinental Exchange by 1.1% in the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock valued at $973,000 after acquiring an additional 62 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its position in Intercontinental Exchange by 17.2% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 63 shares in the last quarter. Finally, Values Added Financial LLC lifted its position in Intercontinental Exchange by 4.4% in the 1st quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock valued at $264,000 after acquiring an additional 64 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 1,570 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total value of $280,166.50. Following the transaction, the chief financial officer owned 22,106 shares in the company, valued at approximately $3,944,815.70. This represents a 6.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 231,678 shares of company stock worth $42,358,043 over the last ninety days. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays boosted their price objective 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. UBS Group boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded down $0.17 during trading on Wednesday, hitting $174.92. 1,083,597 shares of the stock were exchanged, compared to its average volume of 2,973,573. The stock has a market capitalization of $100.13 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The company has a fifty day moving average price of $181.88 and a 200-day moving average price of $174.66. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year 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 0.61.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data 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 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%. Intercontinental Exchange's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

About Intercontinental Exchange

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.