Varma Mutual Pension Insurance Co Trims Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Varma Mutual Pension Insurance Co lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,101 shares of the financial services provider’s stock after selling 4,199 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Intercontinental Exchange were worth $20,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $839,259,000. Wellington Management Group LLP boosted its holdings in Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. Capital World Investors raised its stake in shares of Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after buying an additional 2,530,119 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Intercontinental Exchange by 303.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock valued at $305,832,000 after buying an additional 1,790,493 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded down $2.11 during midday trading on Friday, hitting $160.49. The stock had a trading volume of 2,902,217 shares, compared to its average volume of 2,452,683. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a 50 day simple moving average of $152.10 and a 200-day simple moving average of $141.19. The company has a market capitalization of $92.05 billion, a PE ratio of 36.81, a P/E/G ratio of 2.84 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the firm posted $1.43 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on ICE shares. Citigroup raised their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Argus reaffirmed a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $154.93.

Insider Transactions at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 1,941 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the sale, the director now owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 1,941 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total transaction of $311,899.29. Following the transaction, the director now directly owns 26,908 shares in the company, valued at approximately $4,323,846.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,346 shares of company stock valued at $9,472,911. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company Profile

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.