Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust Buys New Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Retail Employees Superannuation Trust opened a new position in Intercontinental Exchange, buying 45,722 shares worth about $7.4 million. The stake represents roughly 2.0% of its portfolio and is its 20th-largest holding.
• Analysts remain generally bullish on ICE, with a consensus rating of “Buy” and an average price target of $194.60. Recent notes from Barclays and Deutsche Bank were positive, while only a few firms have issued less favorable views.
• Insiders have been selling shares recently, including CTO Mayur Kapani and Director Sharon Bowen, though insider ownership remains low at 0.84%. ICE also reported a strong quarter, beating EPS and revenue estimates and posting 20.4% year-over-year revenue growth.

Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 45,722 shares of the financial services provider's stock, valued at approximately $7,405,000. Intercontinental Exchange makes up approximately 2.0% of Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust's portfolio, making the stock its 20th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Holos Integrated Wealth LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Steph & Co. raised its holdings in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 89 shares in the last quarter. Dorato Capital Management acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in Intercontinental Exchange during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ICE shares. Barclays reissued an "overweight" rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. TD Cowen reissued a "buy" rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Wall Street Zen raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective on the stock in a report on Friday, March 6th. Finally, Weiss Ratings cut shares of Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $194.60.

Insider Activity

In other news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer directly owned 64,869 shares of the company's stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,428 shares of company stock valued at $1,154,736 in the last ninety days. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Down 0.7%

ICE stock opened at $149.52 on Thursday. The company's 50 day moving average is $157.82 and its two-hundred day moving average is $160.16. The stock has a market cap of $84.55 billion, a P/E ratio of 21.76, a PEG ratio of 1.40 and a beta of 0.96. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company's quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 EPS. Research analysts expect that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.

About Intercontinental Exchange

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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