Vancity Investment Management Ltd Takes $18.26 Million Position in Intercontinental Exchange Inc. $ICE

Key Points

• Vancity Investment Management Ltd acquired a new stake in Intercontinental Exchange Inc. valued at approximately $18.26 million, holding around 2.5% of its investment portfolio in the company.
• Intercontinental Exchange's stock has been positively rated by multiple analysts, with Barclays raising its price target to $212.00 and a consensus price target of $194.92.
• The company reported a strong quarterly performance with earnings per share of $1.81 and revenues of $3.26 billion, surpassing analyst expectations.

Vancity Investment Management Ltd acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 105,825 shares of the financial services provider's stock, valued at approximately $18,255,000. Intercontinental Exchange makes up approximately 2.5% of Vancity Investment Management Ltd's investment portfolio, making the stock its 17th largest position.

A number of other institutional investors also recently made changes to their positions in ICE. Fielder Capital Group LLC raised its stake in shares of Intercontinental Exchange by 2.2% during the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after purchasing an additional 61 shares in the last quarter. E Fund Management Co. Ltd. raised its stake in shares of Intercontinental Exchange by 4.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock worth $259,000 after purchasing an additional 61 shares in the last quarter. Berkeley Capital Partners LLC raised its stake in shares of Intercontinental Exchange by 1.1% during the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after purchasing an additional 62 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in shares of Intercontinental Exchange by 17.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 63 shares during the last quarter. Finally, Values Added Financial LLC increased its holdings in shares of Intercontinental Exchange by 4.4% during the 1st quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock valued at $264,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays increased their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Stock Performance

ICE opened at $174.26 on Monday. The stock has a market cap of $99.75 billion, a PE ratio of 33.45, a P/E/G ratio of 2.08 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. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The stock's 50 day simple moving average is $181.49 and its 200-day simple moving average is $174.88.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The business 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%.Intercontinental Exchange's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.52 earnings per share. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 1,570 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $178.45, for a total value of $280,166.50. Following the transaction, the chief financial officer owned 22,106 shares of the company's stock, valued at approximately $3,944,815.70. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owned 46,293 shares of the company's stock, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 227,830 shares of company stock valued at $41,668,789. 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.

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.