Temasek Holdings Private Ltd Buys 27,013 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Temasek Holdings increased its stake in Intercontinental Exchange by 60% in Q3, buying 27,013 shares to own 72,058 shares worth about $12.14 million.
• Company insiders have been net sellers — Lynn C. Martin sold 13,456 shares and President Benjamin Jackson sold 12,861, with insiders disposing of 348,418 shares (~$54.2M) in the past 90 days and now owning about 1% of the stock.
• Analysts maintain a consensus Buy rating with a consensus target price of $194.73; ICE also recently beat EPS estimates ($1.71 vs. $1.67) and has a market cap near $90.4 billion.

Temasek Holdings Private Ltd boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 60.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,058 shares of the financial services provider's stock after buying an additional 27,013 shares during the quarter. Temasek Holdings Private Ltd's holdings in Intercontinental Exchange were worth $12,140,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Private Wealth Management Group LLC lifted its holdings in shares of Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 66 shares during the period. Knuff & Co LLC grew its holdings in shares of Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider's stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Caitlin John LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $32,000. Cornerstone Planning Group LLC increased its position in shares of Intercontinental Exchange by 128.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider's stock worth $46,000 after purchasing an additional 153 shares in the last quarter. Finally, Capital A Wealth Management LLC increased its position in shares of Intercontinental Exchange by 26,000.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider's stock worth $48,000 after purchasing an additional 260 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ICE. TD Cowen restated a "buy" rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Morgan Stanley set a $183.00 target price on shares of Intercontinental Exchange and gave the company an "equal weight" rating in a research note on Tuesday, February 10th. UBS Group reissued a "buy" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. Barclays set a $193.00 price target on Intercontinental Exchange and gave the stock an "overweight" rating in a research report on Friday, February 6th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $194.73.

Insider Activity

In other Intercontinental Exchange news, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the transaction, the insider directly owned 54,319 shares in the company, valued at approximately $8,357,521.34. This trade represents a 19.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 12,861 shares of Intercontinental Exchange stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total value of $2,122,065.00. Following the completion of the sale, the president directly owned 165,692 shares of the company's stock, valued at $27,339,180. This trade represents a 7.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 348,418 shares of company stock worth $54,196,631. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Up 0.3%

Shares of NYSE:ICE opened at $159.12 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The firm has a market cap of $90.36 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.71 and a beta of 1.03. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The company's 50-day moving average price is $164.52 and its two-hundred day moving average price is $162.33.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The company's revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange's payout ratio is 33.28%.

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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