OMERS ADMINISTRATION Corp Sells 3,393 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Intercontinental Exchange Inc. by 14.2%, owning 20,479 shares worth approximately $3.53 million after selling 3,393 shares.
• Institutional investors and hedge funds collectively hold 89.30% of Intercontinental Exchange's stock, with significant stake increases reported by firms like Tsfg LLC and Rakuten Securities Inc.
• The company reported an EPS of $1.81 for the last quarter, exceeding expectations, and showing a year-over-year revenue increase of 9.8%.

OMERS ADMINISTRATION Corp decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,479 shares of the financial services provider's stock after selling 3,393 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Intercontinental Exchange were worth $3,533,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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. Royal Bank of Canada lifted its stake in Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after acquiring an additional 5,204,309 shares in the last quarter. Nuveen LLC purchased a new position in Intercontinental Exchange during the 1st quarter worth $575,383,000. Wellington Management Group LLP boosted its holdings in Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after acquiring an additional 3,165,381 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Intercontinental Exchange by 24,394.4% in the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after acquiring an additional 2,255,507 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ICE. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Barclays upped their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $194.92.

Intercontinental Exchange Stock Performance

ICE stock traded down $0.54 during mid-day trading on Monday, hitting $176.60. The company had a trading volume of 1,775,543 shares, compared to its average volume of 2,915,306. 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 firm has a market cap of $101.09 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The stock's fifty day moving average price is $182.07 and its two-hundred day moving average price is $174.59.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released 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. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 EPS. On average, analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martha A. Tirinnanzi sold 610 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $179.76, for a total value of $109,653.60. Following the transaction, the director owned 3,519 shares of the company's stock, valued at $632,575.44. The trade was a 14.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 449,993 shares of company stock valued at $81,486,507. Company insiders own 1.00% of the company's stock.

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.