Bessemer Group Inc. Acquires 376,420 Shares of Intercontinental Exchange Inc. $ICE

Bessemer Group Inc. boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 15.5% in the second quarter, Holdings Channel reports. The institutional investor owned 2,810,249 shares of the financial services provider’s stock after buying an additional 376,420 shares during the period. Intercontinental Exchange accounts for approximately 0.8% of Bessemer Group Inc.’s holdings, making the stock its 18th largest position. Bessemer Group Inc.’s holdings in Intercontinental Exchange were worth $515,596,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $28,000. Tsfg LLC raised its holdings in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after buying an additional 103 shares during the last quarter. Activest Wealth Management raised its holdings in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Hilltop National Bank bought a new position in Intercontinental Exchange during the 2nd quarter worth approximately $31,000. Finally, McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange during the 1st quarter worth approximately $30,000. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the sale, the senior vice president directly owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,162 shares of company stock worth $43,642,652 in the last quarter. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $157.71 on Monday. The company has a fifty day moving average of $168.26 and a 200-day moving average of $173.68. The firm has a market capitalization of $90.28 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.20 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.52 EPS. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ICE shares. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. UBS Group raised their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday. Morgan Stanley lowered their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $198.60.

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.