Capital International Ltd. CA Increases Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Capital International Ltd. CA boosted its Intercontinental Exchange stake by 343.6% in the fourth quarter, ending with 42,475 shares worth about $6.88 million.
• Other institutional investors also increased exposure to ICE, including major moves from Norges Bank, Wellington Management, and Swedbank, leaving 89.3% of the stock owned by hedge funds and other institutions.
• Intercontinental Exchange reported strong quarterly results, with EPS of $2.35 beating estimates and revenue rising 20.4% year over year; analysts currently rate the stock Moderate Buy with a consensus target price of $194.60.

Capital International Ltd. CA increased its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 343.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,475 shares of the financial services provider's stock after purchasing an additional 32,901 shares during the quarter. Capital International Ltd. CA's holdings in Intercontinental Exchange were worth $6,879,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ICE. Norges Bank purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at $1,418,228,000. Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 64.7% in the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider's stock valued at $1,744,480,000 after purchasing an additional 4,067,922 shares in the last quarter. Waverton Investment Management Ltd grew its position in shares of Intercontinental Exchange by 28,886.8% in the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider's stock valued at $257,163,000 after purchasing an additional 1,521,467 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at $213,286,000. Finally, Swedbank AB boosted its stake in Intercontinental Exchange by 43.3% during the fourth quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider's stock valued at $571,252,000 after buying an additional 1,064,967 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Sharon Bowen sold 667 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 12,001 shares of company stock worth $1,847,820. Insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ICE. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective for the company in a research note on Friday, March 6th. Weiss Ratings lowered Intercontinental Exchange from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price target for the company. Morgan Stanley lifted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Friday, April 10th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus target price of $194.60.

Intercontinental Exchange Trading Down 0.5%

NYSE ICE opened at $141.36 on Friday. Intercontinental Exchange Inc. has a 1-year low of $136.67 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 0.63. The stock has a 50-day moving average of $155.83 and a 200-day moving average of $159.72. The firm has a market cap of $79.94 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

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, beating analysts' consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the company posted $1.72 EPS. Intercontinental Exchange's revenue for the quarter was up 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Intercontinental Exchange 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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