Intercontinental Exchange Inc. $ICE Shares Sold by ABN Amro Investment Solutions

ABN Amro Investment Solutions lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 8.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 412,571 shares of the financial services provider’s stock after selling 35,803 shares during the quarter. Intercontinental Exchange accounts for about 0.8% of ABN Amro Investment Solutions’ portfolio, making the stock its 26th biggest holding. ABN Amro Investment Solutions’ holdings in Intercontinental Exchange were worth $64,889,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after purchasing an additional 413,639 shares in the last quarter. J. Stern & Co. LLP increased its stake in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares during the last quarter. State Street Corp raised its holdings in Intercontinental Exchange by 3.4% in the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after buying an additional 837,208 shares during the period. Morgan Stanley lifted its holdings in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after acquiring an additional 158,450 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth $1,418,228,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on ICE shares. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. UBS Group dropped their target price on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Barclays dropped their price objective on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Piper Sandler lowered their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $181.58.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $138.50 on Wednesday. The company has a market cap of $78.32 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94. The stock has a 50 day simple moving average of $140.17 and a 200-day simple moving average of $154.40. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-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) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the business earned $1.72 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.07 EPS for the current year.

Insider Buying and Selling

In other news, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares in the company, valued at $2,807,608.72. This trade represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,425 shares of company stock valued at $2,046,324 in the last quarter. Corporate insiders own 0.84% of the company’s stock.

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.