Munich Reinsurance Co Stock Corp in Munich Acquires Shares of 244,650 Intercontinental Exchange Inc. $ICE

Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 244,650 shares of the financial services provider’s stock, valued at approximately $38,479,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ICE. ICONIQ Capital LLC increased its stake in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares during the period. Mechanics Financial Corp boosted its stake in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after buying an additional 60 shares during the period. Mission Wealth Management LP boosted its stake in shares of Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after buying an additional 62 shares during the period. Aaron Wealth Advisors LLC grew its holdings in shares of Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after buying an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.5%

Shares of Intercontinental Exchange stock opened at $137.10 on Thursday. The firm has a market cap of $77.53 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.28 and a beta of 0.94. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The company’s 50-day simple moving average is $143.33 and its 200-day simple moving average is $155.91. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.35 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction on Friday, June 12th. The stock was 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 of the company’s stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ICE shares. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a report on Thursday, June 11th. Barclays restated an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Finally, UBS Group decreased their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.08.

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.