Nykredit A S Acquires Shares of 169,649 Intercontinental Exchange Inc. $ICE

Key Points

• Nykredit A/S initiated a position in Intercontinental Exchange, purchasing 169,649 shares worth approximately $20.9 million in the second quarter. Institutional investors collectively own 89.3% of ICE’s outstanding stock.
• ICE reported quarterly earnings of $1.90 per share, exceeding the $1.84 consensus estimate, while revenue reached $3.61 billion and rose 4.8% year over year.
• Analysts maintain a broadly positive view, with a consensus “Moderate Buy” rating and an average price target of $184.17. However, company insiders sold 41,179 shares worth about $6.5 million over the past three months.

Nykredit A S bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 169,649 shares of the financial services provider's stock, valued at approximately $20,885,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. PNC Financial Services Group Inc. grew its stake 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 buying an additional 10,742 shares during the last quarter. BlackRock Inc. purchased a new stake in Intercontinental Exchange in the second quarter valued at about $6,245,085,000. USS Investment Management Ltd raised its stake in Intercontinental Exchange by 37.2% in the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider's stock valued at $148,960,000 after buying an additional 256,851 shares during the last quarter. Walter Public Investments Inc. boosted 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 worth $20,244,000 after acquiring an additional 15,129 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd acquired a new stake in Intercontinental Exchange in the first quarter worth about $11,498,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Martha A. Tirinnanzi sold 1,340 shares of the business's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total transaction of $215,954.40. Following the completion of the transaction, the director directly owned 3,747 shares in the company, valued at $603,866.52. The trade was a 26.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher Edmonds sold 5,000 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the sale, the insider directly owned 14,367 shares in the company, valued at approximately $2,307,196.53. The trade was a 25.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 41,179 shares of company stock worth $6,473,715. Company insiders own 0.84% of the company's stock.

Intercontinental Exchange Trading Up 1.4%

Intercontinental Exchange stock opened at $155.48 on Friday. 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 Inc. has a 52 week low of $121.79 and a 52 week high of $176.05. The company has a market capitalization of $87.28 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.51 and a beta of 0.93. The stock has a 50-day moving average price of $153.12 and a 200 day moving average price of $151.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the company earned $1.81 EPS. Intercontinental Exchange's quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays restated an "overweight" rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial reiterated a "strong-buy" rating and issued a $218.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, September 1st. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday, June 11th. The Goldman Sachs Group decreased their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Finally, Wall Street Zen downgraded shares of Intercontinental Exchange from a "hold" rating to a "sell" rating in a research note on Saturday, September 5th. 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $184.17.

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.

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