Nisa Investment Advisors LLC Increases Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

by · The Markets Daily

Nisa Investment Advisors LLC boosted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 57.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,542 shares of the financial services provider’s stock after acquiring an additional 107,485 shares during the period. Nisa Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $47,315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after acquiring an additional 3,536,913 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Intercontinental Exchange by 4.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock worth $725,657,000 after purchasing an additional 218,516 shares in the last quarter. Mawer Investment Management Ltd. increased its position in shares of Intercontinental Exchange by 0.6% in the first quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock worth $645,434,000 after purchasing an additional 28,771 shares during the last quarter. Legal & General Group Plc raised its stake in Intercontinental Exchange by 4.5% in the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after purchasing an additional 191,763 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in Intercontinental Exchange by 10.4% during the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock valued at $413,298,000 after purchasing an additional 284,664 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

ICE stock opened at $166.42 on Tuesday. The stock has a market capitalization of $95.55 billion, a price-to-earnings ratio of 41.19, a PEG ratio of 2.50 and a beta of 1.08. The firm’s 50-day moving average price is $161.79 and its two-hundred day moving average price is $147.61. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 12-month low of $104.91 and a 12-month high of $167.64.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 EPS. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.12 earnings per share for the current year.

Insider Activity

In related news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at $2,284,875.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,489 shares of company stock valued at $1,202,259. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, October 4th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a report on Monday, October 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Finally, Piper Sandler lifted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.93.

Check Out Our Latest Stock Analysis on ICE

Intercontinental Exchange Company Profile

(Free Report)

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.

Featured Articles

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange, Inc. (NYSE:ICE – Free Report).