Federation des caisses Desjardins du Quebec Sells 20,504 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• The Federation des caisses Desjardins du Quebec sold 20,504 shares of Intercontinental Exchange Inc., reducing its stake by 9.4% during the first quarter, leaving it with 198,488 shares valued at approximately $34.2 million.
• Significant increases in holdings were reported by other institutional investors, including Vanguard Group, which raised its stake by 1.4% to over $9.1 billion.
• CEO Jeffrey C. Sprecher sold 150,000 shares for $27.5 million in August, resulting in a 7.14% decrease in his ownership of the company.

Federation des caisses Desjardins du Quebec lessened its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 198,488 shares of the financial services provider's stock after selling 20,504 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Intercontinental Exchange were worth $34,249,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ICE. REAP Financial Group LLC lifted its holdings in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares during the period. Tsfg LLC lifted its holdings in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares during the period. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the fourth quarter valued at about $29,000. Rakuten Securities Inc. lifted its holdings in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares during the period. Finally, Activest Wealth Management lifted its holdings in Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 162 shares during the period. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $0.26 during trading hours on Friday, hitting $174.26. The company's stock had a trading volume of 3,104,192 shares, compared to its average volume of 2,714,532. The business has a 50 day moving average price of $181.49 and a two-hundred day moving average price of $174.77. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The company has a market cap of $99.75 billion, a PE ratio of 33.45, a PEG ratio of 2.08 and a beta of 1.10. 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 announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 earnings per share. Analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 1,570 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total value of $280,166.50. Following the sale, the chief financial officer directly owned 22,106 shares in the company, valued at approximately $3,944,815.70. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 227,830 shares of company stock valued at $41,668,789 in the last ninety days. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group increased their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Piper Sandler lifted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Barclays lifted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. 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 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.