Intercontinental Exchange Inc. $ICE Shares Sold by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions reduced its stake in Intercontinental Exchange by 6.4% in the fourth quarter, selling 30,810 shares and ending with 448,374 shares worth about $72.6 million.
• Insider selling has also been notable, with CFO Warren Gardiner and General Counsel Andrew J. Surdykowski both trimming their holdings; insiders sold 24,788 shares worth $3.86 million over the last 90 days.
• Analysts remain largely positive on ICE, with a consensus rating of “Buy” and an average price target of $194.60, while the company also recently beat quarterly earnings and revenue estimates.

ABN Amro Investment Solutions cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,374 shares of the financial services provider's stock after selling 30,810 shares during the period. Intercontinental Exchange comprises about 1.1% of ABN Amro Investment Solutions' holdings, making the stock its 20th largest position. ABN Amro Investment Solutions owned 0.08% of Intercontinental Exchange worth $72,619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Northbridge Financial Group LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $416,000. First Business Financial Services Inc. raised its stake in Intercontinental Exchange by 2.9% in the fourth quarter. First Business Financial Services Inc. now owns 14,745 shares of the financial services provider's stock valued at $2,388,000 after buying an additional 413 shares in the last quarter. Banque Cantonale Vaudoise raised its stake in Intercontinental Exchange by 1.8% in the fourth quarter. Banque Cantonale Vaudoise now owns 24,069 shares of the financial services provider's stock valued at $3,898,000 after buying an additional 432 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in Intercontinental Exchange by 7.3% in the fourth quarter. Cullen Frost Bankers Inc. now owns 133,056 shares of the financial services provider's stock valued at $21,550,000 after buying an additional 9,030 shares in the last quarter. Finally, Hardy Reed LLC raised its stake in Intercontinental Exchange by 2.4% in the fourth quarter. Hardy Reed LLC now owns 10,322 shares of the financial services provider's stock valued at $1,672,000 after buying an additional 237 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer owned 25,189 shares of the company's stock, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares in the company, valued at $7,805,322. This represents a 8.67% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 24,788 shares of company stock worth $3,864,675. Corporate insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on ICE shares. Barclays restated an "overweight" rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Wall Street Zen upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Morgan Stanley raised their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. UBS Group restated a "buy" rating and issued a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday. Finally, Piper Sandler restated an "overweight" rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of "Buy" and a consensus target price of $194.60.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $151.61 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The business's 50-day moving average price is $158.58 and its 200 day moving average price is $159.98. The firm has a market cap of $85.74 billion, a P/E ratio of 22.07, a P/E/G ratio of 1.42 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the company posted $1.72 earnings per share. The business's revenue was up 20.4% on a year-over-year basis. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

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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