MASTERINVEST Kapitalanlage GmbH Makes New $1.71 Million Investment in Intercontinental Exchange Inc. $ICE

Key Points

• MASTERINVEST Kapitalanlage GmbH initiated a $1.71 million position in Intercontinental Exchange by purchasing 13,860 shares during the second quarter. Institutional investors collectively own 89.3% of ICE.
• Analysts maintain a positive outlook, with one Strong Buy, nine Buy and two Hold ratings. The consensus rating is “Moderate Buy,” with an average price target of $183.33.
• ICE exceeded quarterly expectations, reporting adjusted EPS of $1.90 versus the $1.84 estimate and revenue of $3.61 billion. Shares opened at $161.19, while company insiders sold 17,227 shares worth about $2.6 million over the past three months.

MASTERINVEST Kapitalanlage GmbH bought a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,860 shares of the financial services provider's stock, valued at approximately $1,706,000.

Several other hedge funds have also modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in Intercontinental Exchange by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider's stock worth $31,041,000 after purchasing an additional 10,742 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $6,245,085,000. USS Investment Management Ltd raised its stake in shares of Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider's stock worth $148,960,000 after buying an additional 256,851 shares during the last quarter. Walter Public Investments Inc. lifted its holdings in Intercontinental Exchange by 13.8% in the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider's stock valued at $20,244,000 after buying an additional 15,129 shares during the period. Finally, Nicholas Company Inc. lifted its holdings in Intercontinental Exchange by 10.1% in the fourth quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider's stock valued at $70,802,000 after buying an additional 40,240 shares during the period. 89.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler lowered their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. TD Cowen restated a "buy" rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. UBS Group reiterated a "buy" rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, The Goldman Sachs Group cut their target price on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus price target of $183.33.

Intercontinental Exchange Trading Down 0.5%

Shares of NYSE ICE opened at $161.19 on Friday. The company's fifty day moving average is $144.32 and its 200-day moving average is $151.43. The stock has a market cap of $90.49 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $177.76. 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 (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 EPS. Equities research analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the transaction, the director owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,491 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the transaction, the chief financial officer owned 22,698 shares of the company's stock, valued at $3,547,697.40. This represents a 9.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 17,227 shares of company stock worth $2,598,301. 0.84% of the stock is owned by company insiders.

About Intercontinental Exchange

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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