Voya Investment Management LLC Has $330.60 Million Position in Intercontinental Exchange Inc. $ICE

Key Points

• Voya Investment Management LLC increased its stake in Intercontinental Exchange by 12.4%, acquiring a total of 1,917,983 shares worth approximately $330.6 million.
• ICE has received positive analyst ratings, with UBS Group and Barclays raising their price targets to $210 and $212, respectively, indicating a consensus rating of "Moderate Buy".
• Intercontinental Exchange reported earnings of $1.81 per share, exceeding expectations, and its revenue for the quarter rose by 9.8% year-over-year to $3.26 billion.

Voya Investment Management LLC grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,917,983 shares of the financial services provider's stock after purchasing an additional 211,555 shares during the period. Voya Investment Management LLC owned approximately 0.33% of Intercontinental Exchange worth $330,602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Advisors Capital Management LLC boosted its holdings in Intercontinental Exchange by 25.0% during the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider's stock worth $341,000 after buying an additional 396 shares in the last quarter. Tema Etfs LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $1,107,000. Capital Investment Advisory Services LLC acquired a new position in shares of Intercontinental Exchange in the 1st quarter worth $349,000. Sequoia Financial Advisors LLC grew its holdings in shares of Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after acquiring an additional 1,879 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in Intercontinental Exchange in the 4th quarter worth about $28,949,000. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. UBS Group lifted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Intercontinental Exchange Stock Down 1.1%

Shares of NYSE:ICE traded down $1.95 on Monday, reaching $172.02. The company had a trading volume of 2,669,551 shares, compared to its average volume of 2,462,453. The stock has a market capitalization of $98.47 billion, a P/E ratio of 33.02, a P/E/G ratio of 2.07 and a beta of 1.10. The stock has a 50-day moving average price of $180.62 and a 200 day moving average price of $175.02. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. 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 announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The company's revenue was up 9.8% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,730 shares of company stock worth $42,171,892 in the last quarter. 1.00% of the stock is owned by corporate insiders.

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.