OMERS ADMINISTRATION Corp Increases Stock Position in Intercontinental Exchange Inc. $ICE

OMERS ADMINISTRATION Corp lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 29.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,538 shares of the financial services provider’s stock after purchasing an additional 6,059 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Intercontinental Exchange were worth $4,174,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted 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 purchasing an additional 10,742 shares during the last quarter. USS Investment Management Ltd increased its position in shares of Intercontinental Exchange by 37.2% during the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after purchasing an additional 256,851 shares during the last quarter. Walter Public Investments Inc. raised its stake in shares of Intercontinental Exchange by 13.8% during 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. OFI Invest Asset Management boosted its holdings in shares of Intercontinental Exchange by 51,986.3% in the 4th quarter. OFI Invest Asset Management now owns 400,544 shares of the financial services provider’s stock worth $64,872,000 after buying an additional 399,775 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in 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 valued at $8,770,647,000 after buying an additional 413,639 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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 note on Tuesday, July 7th. Piper Sandler dropped their price objective on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a report on Monday, July 6th. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. Finally, Morgan Stanley cut their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. One 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 MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $181.58.

Intercontinental Exchange Stock Up 1.8%

ICE stock opened at $148.48 on Tuesday. The company’s 50 day moving average is $139.35 and its 200 day moving average is $153.88. The stock has a market cap of $83.97 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 1.51 and a beta of 0.94. 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 1-year low of $121.79 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results 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. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $1.72 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 20.4% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.01 EPS for the current fiscal year.

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 dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was 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 owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,425 shares of company stock worth $2,046,324 in the last three months. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Profile

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.