Guinness Asset Management LTD Buys 14,436 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Guinness Asset Management LTD has increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 5.3% to own a total of 287,735 shares, making it the 23rd largest position in its portfolio.
• Significant activity among institutional investors includes REAP Financial Group LLC increasing its stake by 116.7% and Activest Wealth Management boosting its stake by 4,050.0% during recent quarters.
• Intercontinental Exchange reported $1.81 EPS for the last quarter, surpassing analysts' expectations, with a revenue of $3.26 billion, which is a 9.8% increase year-over-year.

Guinness Asset Management LTD increased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 287,735 shares of the financial services provider's stock after buying an additional 14,436 shares during the quarter. Intercontinental Exchange accounts for approximately 1.0% of Guinness Asset Management LTD's investment portfolio, making the stock its 23rd largest position. Guinness Asset Management LTD owned approximately 0.05% of Intercontinental Exchange worth $49,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ICE. Vanguard Group Inc. boosted its holdings in Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock valued at $9,132,211,000 after acquiring an additional 712,179 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares in the last quarter. Amundi raised its position in Intercontinental Exchange by 14.7% in the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider's stock valued at $1,060,574,000 after buying an additional 810,938 shares during the last quarter. Finally, Independent Franchise Partners LLP increased its position in shares of Intercontinental Exchange by 0.5% during the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock valued at $1,068,193,000 after purchasing an additional 31,588 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Barclays lifted their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, UBS Group boosted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $1.95 during midday trading on Monday, reaching $172.02. 2,669,551 shares of the company's stock traded hands, compared to its average volume of 2,967,727. The company has a market cap of $98.47 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 2.07 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 Inc. has a one year low of $142.29 and a one year high of $189.35. The stock has a 50 day moving average of $180.62 and a 200 day moving average of $175.02.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. Intercontinental Exchange's revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the sale, the senior vice president owned 25,796 shares of the company's stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,730 shares of company stock valued at $42,171,892. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Company 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.