Capital International Ltd. CA Boosts Stock Position in Intercontinental Exchange Inc. $ICE

Capital International Ltd. CA increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 343.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 42,475 shares of the financial services provider’s stock after buying an additional 32,901 shares during the quarter. Capital International Ltd. CA’s holdings in Intercontinental Exchange were worth $6,879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. Norges Bank purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $1,418,228,000. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares during the last quarter. Waverton Investment Management Ltd grew its stake in shares of Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock worth $257,163,000 after buying an additional 1,521,467 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $213,286,000. Finally, Swedbank AB grew its stake in shares of Intercontinental Exchange by 43.3% in the 4th quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock worth $571,252,000 after buying an additional 1,064,967 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Morgan Stanley upped their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target on the stock. Barclays restated an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $194.60.

Intercontinental Exchange Stock Performance

ICE stock opened at $141.36 on Friday. The stock has a market capitalization of $79.94 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $136.67 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. The stock’s 50 day simple moving average is $155.83 and its 200 day simple moving average is $159.72.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 EPS. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 12,001 shares of company stock valued at $1,847,820. 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.