Intercontinental Exchange Inc. $ICE Shares Sold by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Intercontinental Exchange by 15.1%, owning approximately 0.17% of the company after selling 173,001 shares.
• Several institutional investors have changed their positions in Intercontinental Exchange, with Governors Lane LP increasing its stake by 88.0% during the last quarter.
• ICE has received multiple upgrades from analysts, with price targets increasing significantly, the highest now at $212.00 from Barclays, reflecting strong overall sentiment towards the stock.

Caisse DE Depot ET Placement DU Quebec cut its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 15.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 976,048 shares of the financial services provider's stock after selling 173,001 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.17% of Intercontinental Exchange worth $168,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in ICE. REAP Financial Group LLC grew its position in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares in the last quarter. Tsfg LLC raised its position in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the period. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $29,000. Rakuten Securities Inc. grew its holdings in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares during the period. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange during the 1st quarter worth $30,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm's stock in a transaction on 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 directly owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the sale, the chief executive officer owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 448,569 shares of company stock valued at $81,233,566 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Down 0.1%

Shares of NYSE ICE traded down $0.18 during mid-day trading on Thursday, hitting $177.12. The company had a trading volume of 2,170,883 shares, compared to its average volume of 3,129,241. The company has a market capitalization of $101.39 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The business's 50-day simple moving average is $182.15 and its 200 day simple moving average is $174.36.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (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 analysts' expectations 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 for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. On average, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent analyst reports. 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 research report on Friday, August 1st. UBS Group upped their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $194.92.

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.