National Pension Service Has $144.45 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

• National Pension Service increased its Intercontinental Exchange stake by 3.5% in the second quarter, owning 1.17 million shares valued at approximately $144.45 million. Institutional investors collectively hold 89.3% of ICE’s outstanding shares.
• Analysts maintain a generally positive outlook, with one Strong Buy, nine Buy, and two Hold ratings. The stock has a consensus “Moderate Buy” rating and an average price target of $184.17.
• ICE exceeded quarterly earnings expectations, reporting $1.90 in EPS versus the $1.84 consensus and $3.61 billion in revenue. However, company insiders sold 39,579 shares worth about $6.22 million over the past three months.

National Pension Service increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,173,317 shares of the financial services provider's stock after buying an additional 39,430 shares during the quarter. National Pension Service owned 0.21% of Intercontinental Exchange worth $144,447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth $26,000. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. Swiss RE Ltd. bought a new stake in Intercontinental Exchange in the 4th quarter worth about $28,000. Lloyd Advisory Services LLC. purchased a new stake in Intercontinental Exchange in the 4th quarter valued at about $30,000. Finally, Gables Capital Management Inc. purchased a new stake in Intercontinental Exchange in the 2nd quarter valued at about $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ICE. UBS Group reaffirmed a "buy" rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Morgan Stanley reduced their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating for the company in a research report on Friday, July 10th. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, June 11th. The Goldman Sachs Group reduced their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Finally, Piper Sandler decreased their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $184.17.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the transaction, the senior vice president owned 17,463 shares of the company's stock, valued at $2,794,080. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Benjamin Jackson sold 12,862 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the sale, the president owned 164,264 shares in the company, valued at $26,297,023.76. The trade was a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,579 shares of company stock worth $6,217,715 in the last three months. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Trading Down 0.5%

Shares of ICE opened at $155.73 on Friday. The firm's 50 day simple moving average is $150.64 and its 200 day simple moving average is $151.71. The company has a market capitalization of $87.43 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $176.59.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping 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 business's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.81 EPS. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc NYSE: ICE operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.