Mn Services Vermogensbeheer B.V. Acquires 4,100 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Mn Services Vermogensbeheer B.V. has increased its stake in Intercontinental Exchange by 1.9%, acquiring an additional 4,100 shares, bringing its total holdings to 214,700 shares valued at approximately $39.39 million.
• Institutional investors collectively own 89.30% of Intercontinental Exchange's stock, with several hedge funds enhancing their stakes during the second quarter.
• Intercontinental Exchange reported a 9.8% year-over-year revenue increase, totaling $3.26 billion, and earnings per share of $1.81, exceeding analysts' expectations.

Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 214,700 shares of the financial services provider's stock after acquiring an additional 4,100 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Intercontinental Exchange were worth $39,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedmont Private Capital grew its stake in Intercontinental Exchange by 6.1% in the second quarter. Wedmont Private Capital now owns 7,497 shares of the financial services provider's stock worth $1,366,000 after purchasing an additional 432 shares during the period. Swedbank AB grew its stake in Intercontinental Exchange by 8.2% in the second quarter. Swedbank AB now owns 2,358,355 shares of the financial services provider's stock worth $432,687,000 after purchasing an additional 178,735 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Intercontinental Exchange by 2.3% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 13,446 shares of the financial services provider's stock worth $2,467,000 after purchasing an additional 302 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Intercontinental Exchange by 5.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 73,115 shares of the financial services provider's stock worth $13,414,000 after purchasing an additional 3,972 shares during the period. Finally, Brooklyn FI LLC purchased a new stake in Intercontinental Exchange in the second quarter worth $256,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.3%

ICE stock opened at $171.98 on Thursday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The business's 50-day moving average is $180.01 and its two-hundred day moving average is $174.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $98.44 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 2.04 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. Intercontinental Exchange's revenue was up 9.8% on a year-over-year basis. As a group, analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the 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 of the company's stock, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,730 shares of company stock valued at $42,171,892 in the last 90 days. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group upped their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Piper Sandler raised their price objective 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, Barclays increased their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.

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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