Qsemble Capital Management LP Buys New Position in Intercontinental Exchange Inc. $ICE

Qsemble Capital Management LP bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 38,350 shares of the financial services provider’s stock, valued at approximately $6,211,000.

Several other institutional investors have also recently added to or reduced their stakes in ICE. Wellington Management Group LLP boosted its position in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after acquiring an additional 4,067,922 shares during the last quarter. Mawer Investment Management Ltd. boosted its position in Intercontinental Exchange by 179.1% during the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock worth $416,544,000 after acquiring an additional 1,586,620 shares during the last quarter. Waverton Investment Management Ltd boosted its position in Intercontinental Exchange by 28,886.8% during the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock worth $257,163,000 after acquiring an additional 1,521,467 shares during the last quarter. Swedbank AB boosted its position in Intercontinental Exchange by 43.3% during the fourth quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock worth $571,252,000 after acquiring an additional 1,064,967 shares during the last quarter. Finally, Capital World Investors boosted its position in Intercontinental Exchange by 15.2% during the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock worth $1,184,238,000 after acquiring an additional 928,047 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the transaction, the general counsel owned 48,181 shares of the company’s stock, valued at approximately $7,805,322. This trade represents a 8.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mayur Kapani sold 15,213 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,055,992.38. This represents a 19.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 330,835 shares of company stock valued at $51,275,650 over the last 90 days. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $154.48 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market cap of $87.36 billion, a P/E ratio of 22.49, a P/E/G ratio of 1.44 and a beta of 0.96. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The firm’s 50 day moving average is $159.26 and its two-hundred day moving average is $159.94.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. Intercontinental Exchange’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 earnings per share. Analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ICE. Barclays restated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Piper Sandler restated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. UBS Group restated a “buy” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. Finally, Morgan Stanley raised their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $194.10.

About Intercontinental Exchange

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.