Vontobel Holding Ltd. Has $467.19 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Vontobel Holding Ltd. reduced its stake in Intercontinental Exchange Inc. by 5.8%, owning approximately 2.5 million shares worth $467.19 million at the end of the previous reporting period.
• Several hedge funds have significantly increased their investments in Intercontinental Exchange, with notable increases from Price T Rowe Associates by 491.3% and Wellington Management Group by 113.9% during the first quarter.
• Intercontinental Exchange's stock currently has an average rating of "Moderate Buy" from analysts, with a consensus price target of $197.10 following recent upgrades from major banks.

Vontobel Holding Ltd. lessened its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,546,398 shares of the financial services provider's stock after selling 156,943 shares during the quarter. Intercontinental Exchange makes up about 1.5% of Vontobel Holding Ltd.'s portfolio, making the stock its 17th biggest position. Vontobel Holding Ltd. owned about 0.44% of Intercontinental Exchange worth $467,188,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock valued at $9,132,211,000 after purchasing an additional 712,179 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares during the last quarter. Amundi raised its holdings in Intercontinental Exchange by 14.7% in the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider's stock valued at $1,060,574,000 after acquiring an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in Intercontinental Exchange by 0.5% in the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock valued at $1,068,193,000 after acquiring an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock valued at $1,025,230,000 after acquiring an additional 3,165,381 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised Intercontinental Exchange to a "moderate buy" rating in a report on Monday. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, September 25th. Piper Sandler upped their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. UBS Group upped their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Exchange in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $197.10.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $159.31 on Thursday. The company has a market cap of $91.19 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.97 and a beta of 1.08. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The business has a 50 day moving average price of $175.06 and a 200-day moving average price of $174.37. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate 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 return on equity of 13.66% and a net margin of 23.92%.The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 earnings per share. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the general counsel directly owned 46,293 shares of the company's stock, valued at $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares of the company's stock, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock valued at $42,187,714 over the last quarter. Corporate insiders own 1.00% of the company's stock.

About Intercontinental Exchange

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.

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