Generali Asset Management SPA SGR Acquires 6,963 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Generali Asset Management increased its stake in Intercontinental Exchange by 20% in the fourth quarter, buying 6,963 additional shares and bringing its total holding to 41,815 shares valued at about $6.77 million.
• ICE reported strong quarterly results, with earnings of $2.35 per share beating estimates and revenue of $3.67 billion topping expectations; revenue rose 20.4% year over year.
• Wall Street remains bullish on Intercontinental Exchange, with multiple firms raising or reiterating positive ratings and a consensus price target of $194.10, while insiders have recently sold shares.

Generali Asset Management SPA SGR raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,815 shares of the financial services provider's stock after buying an additional 6,963 shares during the quarter. Generali Asset Management SPA SGR's holdings in Intercontinental Exchange were worth $6,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $25,000. Holos Integrated Wealth LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth $28,000. Steph & Co. boosted its holdings in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Dorato Capital Management purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $29,000. Finally, Caitlin John LLC purchased a new position in shares of Intercontinental Exchange during the third quarter valued at about $32,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.2%

Shares of NYSE:ICE opened at $155.76 on Friday. The company has a market cap of $88.09 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.44 and a beta of 0.96. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 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 has a 50-day moving average price of $160.25 and a 200 day moving average price of $160.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm's revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 earnings per share. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Insider Activity

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the transaction, the insider directly owned 14,266 shares of the company's stock, valued at $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mayur Kapani sold 15,213 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the completion of the sale, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,055,992.38. This represents a 19.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 343,696 shares of company stock worth $53,397,715. Company insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ICE. Barclays reiterated an "overweight" rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Piper Sandler restated an "overweight" rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price objective on the stock. UBS Group reaffirmed a "buy" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 target price for the company in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $194.10.

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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