Ninety One UK Ltd Has $277.69 Million Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Ninety One UK Ltd increased its holdings in Intercontinental Exchange Inc. by 23.1%, owning approximately $277.69 million in shares after acquiring an additional 283,799 shares in the second quarter.
• Major institutional investors have significantly raised their stakes in Intercontinental Exchange, including Vanguard Group and Price T Rowe Associates, with institutional ownership now representing 89.30% of the company's stock.
• Wall Street analysts are optimistic about Intercontinental Exchange, with most giving it a "Moderate Buy" rating and target prices ranging from $197.36 to $212.00.

Ninety One UK Ltd boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 23.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,513,558 shares of the financial services provider's stock after purchasing an additional 283,799 shares during the quarter. Ninety One UK Ltd owned about 0.26% of Intercontinental Exchange worth $277,692,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock valued at $9,132,211,000 after purchasing an additional 712,179 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares in the last quarter. Amundi raised its stake in Intercontinental Exchange by 14.7% in the first quarter. Amundi now owns 6,315,706 shares of the financial services provider's stock valued at $1,060,574,000 after purchasing an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP raised its stake in Intercontinental Exchange by 0.5% in the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock valued at $1,068,193,000 after purchasing an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Activity at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the sale, the general counsel owned 46,293 shares in the company, valued at $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 230,874 shares of company stock valued at $42,187,714. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ICE shares. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, September 25th. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Barclays boosted 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. Finally, UBS Group boosted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average price target of $197.36.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $168.26 on Wednesday. The stock has a market cap of $96.32 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock's 50-day moving average is $177.79 and its 200-day moving average is $174.91. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.52 earnings per share. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Company 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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