Intercontinental Exchange Inc. $ICE Shares Sold by Securian Asset Management Inc.

Key Points

• Securian Asset Management cut its stake in Intercontinental Exchange by 43.9% in the fourth quarter, leaving it with 15,504 shares valued at about $2.51 million.
• Intercontinental Exchange reported strong quarterly results, with EPS of $2.35 beating estimates and revenue of $3.67 billion topping expectations, while revenue rose 20.4% year over year.
• Wall Street remains bullish on ICE, with a consensus rating of Buy and an average price target of $194.10, even as some company insiders recently sold shares.

Securian Asset Management Inc. lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 43.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,504 shares of the financial services provider's stock after selling 12,140 shares during the period. Securian Asset Management Inc.'s holdings in Intercontinental Exchange were worth $2,511,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Dorato Capital Management acquired a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $29,000. Steph & Co. increased its holdings in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Holos Integrated Wealth LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Finally, Caitlin John LLC acquired a new stake in Intercontinental Exchange in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $157.76 on Tuesday. The company has a fifty day simple moving average of $160.05 and a two-hundred day simple moving average of $160.02. The company has a market cap of $89.21 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96. 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.

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

Wall Street Analysts Forecast Growth

ICE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 target price for the company in a report on Friday, March 6th. TD Cowen reiterated a "buy" rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Weiss Ratings downgraded shares of Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, April 24th. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a report on Friday, April 10th. 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 investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of "Buy" and an average price target of $194.10.

Insider Activity

In related news, CTO Mayur Kapani sold 15,213 shares of the business's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,055,992.38. The trade was a 19.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the transaction, the general counsel owned 48,181 shares of the company's stock, valued at approximately $7,805,322. The trade was a 8.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 330,835 shares of company stock valued at $51,275,650. Insiders own 0.84% of the company's stock.

Intercontinental Exchange Company 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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