National Mutual Insurance Federation of Agricultural Cooperatives Grows Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• National Mutual Insurance Federation of Agricultural Cooperatives increased its Intercontinental Exchange stake by 26.9% in the fourth quarter, adding 43,000 shares to bring its total to 203,000 shares worth about $32.9 million.
• Several other institutions also boosted holdings in ICE, and hedge funds and other institutional investors own 89.30% of the stock overall.
• ICE beat earnings expectations in its latest quarter, reporting $2.35 EPS and $3.67 billion in revenue, while analysts currently rate the stock a consensus Buy with a target price of $194.10.

National Mutual Insurance Federation of Agricultural Cooperatives grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 26.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 203,000 shares of the financial services provider's stock after purchasing an additional 43,000 shares during the period. Intercontinental Exchange makes up approximately 0.2% of National Mutual Insurance Federation of Agricultural Cooperatives' holdings, making the stock its 25th largest position. National Mutual Insurance Federation of Agricultural Cooperatives' holdings in Intercontinental Exchange were worth $32,878,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Swiss Life Asset Management Ltd raised its holdings in Intercontinental Exchange by 9.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 111,178 shares of the financial services provider's stock worth $18,006,000 after acquiring an additional 9,510 shares during the last quarter. Naples Global Advisors LLC raised its holdings in Intercontinental Exchange by 18.9% in the 4th quarter. Naples Global Advisors LLC now owns 16,951 shares of the financial services provider's stock worth $2,745,000 after acquiring an additional 2,694 shares during the last quarter. Income Insurance Ltd purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $276,000. Altman Advisors Inc. raised its holdings in Intercontinental Exchange by 0.8% in the 4th quarter. Altman Advisors Inc. now owns 13,149 shares of the financial services provider's stock worth $2,130,000 after acquiring an additional 103 shares during the last quarter. Finally, Advisor OS LLC raised its holdings in Intercontinental Exchange by 9.2% in the 4th quarter. Advisor OS LLC now owns 2,472 shares of the financial services provider's stock worth $400,000 after acquiring an additional 209 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ICE. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price objective for the company. Piper Sandler reiterated 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. Barclays reiterated an "overweight" rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Finally, Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $194.10.

Intercontinental Exchange Trading Down 0.0%

NYSE:ICE opened at $155.76 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $88.09 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The business has a fifty day moving average price of $160.25 and a 200-day moving average price of $160.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange's revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.72 EPS. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, insider Lynn C. Martin sold 13,456 shares of the company's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the sale, the insider directly owned 54,319 shares in the company, valued at $8,357,521.34. This represents a 19.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the company's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel owned 48,181 shares of the company's stock, valued at $7,805,322. This trade represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 343,696 shares of company stock worth $53,397,715 over the last three months. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange 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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