Varma Mutual Pension Insurance Co Raises Stake in Intercontinental Exchange Inc. $ICE

Varma Mutual Pension Insurance Co grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 22.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 107,901 shares of the financial services provider’s stock after acquiring an additional 19,500 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Intercontinental Exchange were worth $18,179,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Mechanics Financial Corp lifted its stake in Intercontinental Exchange by 2.2% in the third quarter. Mechanics Financial Corp now owns 6,078 shares of the financial services provider’s stock worth $1,024,000 after purchasing an additional 133 shares during the last quarter. Caprock Group LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at about $2,788,000. Advisors Asset Management Inc. boosted its holdings in Intercontinental Exchange by 7.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 8,562 shares of the financial services provider’s stock valued at $1,443,000 after acquiring an additional 613 shares during the period. Krilogy Financial LLC boosted its holdings in Intercontinental Exchange by 12.3% during the 3rd quarter. Krilogy Financial LLC now owns 17,148 shares of the financial services provider’s stock valued at $2,889,000 after acquiring an additional 1,872 shares during the period. Finally, Stratos Wealth Advisors LLC grew its position in Intercontinental Exchange by 4.0% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 3,114 shares of the financial services provider’s stock worth $525,000 after acquiring an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $149.82 on Friday. The business’s fifty day moving average is $165.35 and its 200 day moving average is $165.86. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a market cap of $85.08 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.58 and a beta of 1.02. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 33.28%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Tuesday. Finally, UBS Group reaffirmed a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and a consensus target price of $195.40.

Insider Activity

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,345 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,221,150.80. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 1,770 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $152.52, for a total value of $269,960.40. Following the transaction, the general counsel owned 44,212 shares of the company’s stock, valued at $6,743,214.24. The trade was a 3.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 181,570 shares of company stock valued at $28,077,452. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Company 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.