Invesco LLC Reduces Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Invesco LLC reduced its holdings in Intercontinental Exchange Inc. by 14.1% in the second quarter, bringing their stake down to 12,808 shares, which represents 0.9% of their investment portfolio.
• Multiple institutional investors, including Price T Rowe Associates and Goldman Sachs Group, have increased their stakes in Intercontinental Exchange, indicating significant investor interest.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Intercontinental Exchange, with price targets ranging from $197.36 to $212.00.

Invesco LLC decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 14.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,808 shares of the financial services provider's stock after selling 2,106 shares during the period. Intercontinental Exchange accounts for 0.9% of Invesco LLC's investment portfolio, making the stock its 29th biggest position. Invesco LLC's holdings in Intercontinental Exchange were worth $2,350,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares during the last quarter. Nuveen LLC acquired a new stake in Intercontinental Exchange during the first quarter worth approximately $575,383,000. Wellington Management Group LLP boosted its position in Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after acquiring an additional 3,165,381 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Intercontinental Exchange by 50.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after acquiring an additional 1,993,084 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Intercontinental Exchange by 31.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider's stock valued at $616,836,000 after acquiring an additional 861,679 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Piper Sandler upped their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.36.

Intercontinental Exchange Stock Up 0.2%

Shares of NYSE:ICE opened at $167.69 on Monday. The stock has a 50-day simple moving average of $178.30 and a 200-day simple moving average of $174.98. The stock has a market capitalization of $95.99 billion, a P/E ratio of 32.19, a PEG ratio of 2.00 and a beta of 1.10. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. 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 posted its quarterly 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 firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. Equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm's 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 transaction, the general counsel directly owned 46,293 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 231,669 shares of company stock worth $42,333,438. Corporate insiders own 1.00% of the company's stock.

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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