Intercontinental Exchange Inc. $ICE Shares Purchased by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB increased its stake in Intercontinental Exchange Inc. by 27.8%, owning 2,139,390 shares valued at approximately $392.6 million.
• Insider trading activity includes the sale of 230,874 shares by company insiders in the last quarter, worth over $42 million.
• Intercontinental Exchange reported a 9.8% increase in revenue year-over-year, with earnings of $1.81 per share surpassing estimates.

AMF Tjanstepension AB boosted its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 27.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,139,390 shares of the financial services provider's stock after purchasing an additional 465,632 shares during the quarter. Intercontinental Exchange comprises about 2.6% of AMF Tjanstepension AB's holdings, making the stock its 11th largest position. AMF Tjanstepension AB owned 0.37% of Intercontinental Exchange worth $392,603,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after buying an additional 1,169 shares during the period. NBC Securities Inc. purchased a new position in Intercontinental Exchange during the first quarter worth about $88,000. Breakwater Capital Group purchased a new position in Intercontinental Exchange during the first quarter worth about $417,000. Fjell Capital LLC lifted its position in Intercontinental Exchange by 1.7% during the first quarter. Fjell Capital LLC now owns 5,897 shares of the financial services provider's stock worth $1,017,000 after buying an additional 98 shares during the period. Finally, Generali Investments Management Co LLC lifted its position in Intercontinental Exchange by 12.6% during the first quarter. Generali Investments Management Co LLC now owns 6,035 shares of the financial services provider's stock worth $1,041,000 after buying an additional 675 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. This trade represents a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,874 shares of company stock worth $42,187,714. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $162.47 on Friday. The company has a market cap of $93.00 billion, a P/E ratio of 31.18, a PEG ratio of 1.96 and a beta of 1.08. 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 business's 50-day simple moving average is $176.53 and its 200 day simple moving average is $174.67.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results 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 company's revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $1.52 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. Morgan Stanley reduced their target price on Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a research report on Wednesday. UBS Group increased their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, September 25th. Finally, Piper Sandler raised 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. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average price target of $198.20.

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.

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