Canada Pension Plan Investment Board Makes New Investment in Intercontinental Exchange Inc. $ICE

Canada Pension Plan Investment Board purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,194,830 shares of the financial services provider’s stock, valued at approximately $147,096,000. Canada Pension Plan Investment Board owned 0.21% of Intercontinental Exchange as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ICE. PNC Financial Services Group Inc. raised its position in Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after acquiring an additional 10,742 shares during the period. BlackRock Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $6,245,085,000. USS Investment Management Ltd increased its stake in shares of Intercontinental Exchange by 37.2% in the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after purchasing an additional 256,851 shares in the last quarter. Walter Public Investments Inc. raised its holdings in Intercontinental Exchange by 13.8% in the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after purchasing an additional 15,129 shares during the period. Finally, Nicholas Company Inc. lifted its position in Intercontinental Exchange by 10.1% during the fourth quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock valued at $70,802,000 after purchasing an additional 40,240 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.1%

Shares of ICE opened at $162.01 on Thursday. The business’s 50 day moving average is $143.78 and its 200 day moving average is $151.48. 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 Inc. has a 12-month low of $121.79 and a 12-month high of $179.20. The company has a market capitalization of $90.95 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.81 EPS. Research analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ICE. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. The Goldman Sachs Group reduced their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. TD Cowen reaffirmed a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler reduced their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Finally, Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research report on Monday, July 6th. One equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.33.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the sale, the chief technology officer owned 67,988 shares in the company, valued at approximately $10,279,785.60. The trade was a 5.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,227 shares of company stock worth $2,598,301 in the last three months. 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.