Intercontinental Exchange Inc. $ICE Shares Purchased by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management has increased its stake in Intercontinental Exchange Inc. by 1.5%, now owning approximately 4.2 million shares valued at $723.9 million.
• Analysts forecast growth for the company, with UBS Group raising its price target from $195 to $210, while Barclays increased its target from $206 to $212.
• Insider transactions indicate CEO and CFO have sold shares recently, with a total of 230,730 shares sold by insiders this past quarter, amounting to $42.17 million.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,196,574 shares of the financial services provider's stock after acquiring an additional 60,236 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.73% of Intercontinental Exchange worth $723,909,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Tema Etfs LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $1,107,000. Capital Investment Advisory Services LLC purchased a new stake in Intercontinental Exchange during the 1st quarter worth approximately $349,000. Sequoia Financial Advisors LLC boosted its stake in shares of Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after acquiring an additional 1,879 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth approximately $28,949,000. Finally, Ritholtz Wealth Management lifted its holdings in Intercontinental Exchange by 52.3% in the 1st quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock valued at $1,372,000 after purchasing an additional 2,732 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ICE. UBS Group raised their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Barclays upped their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Ten 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Insider Activity

In related news, CFO Warren Gardiner sold 1,570 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total transaction of $280,166.50. Following the completion of the sale, the chief financial officer owned 22,106 shares in the company, valued at approximately $3,944,815.70. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction dated 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 owned 46,293 shares of the company's stock, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,730 shares of company stock worth $42,174,868 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $173.85 on Tuesday. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company has a market cap of $99.52 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. The business has a fifty day moving average of $181.29 and a two-hundred day moving average of $174.92. 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 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 business had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the business posted $1.52 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

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.

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