Intercontinental Exchange Inc. $ICE Stock: Robeco Institutional Asset Management B.V. Decreases Stake

Robeco Institutional Asset Management B.V. lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 41.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 287,878 shares of the financial services provider’s stock after selling 204,325 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Intercontinental Exchange were worth $43,766,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth about $6,245,085,000. State Street Corp lifted its position in Intercontinental Exchange by 1.6% during the 2nd quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock valued at $3,196,758,000 after acquiring an additional 415,490 shares during the period. Wellington Management Group LLP lifted its position in Intercontinental Exchange by 16.1% during the 2nd quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock valued at $1,454,209,000 after acquiring an additional 1,634,385 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $714,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intercontinental Exchange by 1.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,298,162 shares of the financial services provider’s stock worth $652,257,000 after acquiring an additional 52,910 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Argus decreased their target price on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Rothschild & Co Redburn boosted their price target on Intercontinental Exchange from $173.00 to $181.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Finally, Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $186.31.

Intercontinental Exchange Trading Up 3.9%

NYSE ICE opened at $163.82 on Friday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $176.05. 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 fifty day moving average price is $157.10 and its 200-day moving average price is $150.81. The stock has a market cap of $91.97 billion, a P/E ratio of 23.14, a P/E/G ratio of 1.46 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. Intercontinental Exchange’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 EPS. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.20 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Edmonds sold 5,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total value of $802,950.00. Following the completion of the transaction, the insider directly owned 14,367 shares of the company’s stock, valued at approximately $2,307,196.53. The trade was a 25.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $160.00, for a total transaction of $256,000.00. Following the completion of the transaction, the senior vice president directly owned 15,863 shares of the company’s stock, valued at $2,538,080. This trade represents a 9.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,179 shares of company stock worth $6,473,715 in the last ninety days. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.