3,427,830 Shares in Intercontinental Exchange Inc. $ICE Bought by Legal & General Group Plc

by · The Markets Daily

Legal & General Group Plc acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,427,830 shares of the financial services provider’s stock, valued at approximately $422,000,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Brooklands Fund Management Ltd purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. acquired a new position in Intercontinental Exchange in the 4th quarter worth approximately $30,000. Finally, Rakuten Securities Inc. purchased a new position in Intercontinental Exchange during the 2nd quarter worth approximately $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president owned 19,063 shares in the company, valued at $2,838,099.44. The trade was a 27.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the transaction, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at $10,279,785.60. The trade was a 5.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,227 shares of company stock worth $2,598,301 over the last three months. Corporate insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ICE. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research report on Monday, July 6th. TD Cowen reaffirmed a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, UBS Group reaffirmed a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

View Our Latest Stock Analysis on Intercontinental Exchange

Intercontinental Exchange Trading Down 0.7%

Intercontinental Exchange stock opened at $161.93 on Wednesday. The firm has a market cap of $90.90 billion, a PE ratio of 22.87, a P/E/G ratio of 1.58 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $179.20. The stock’s 50 day simple moving average is $143.22 and its two-hundred day simple moving average is $151.53. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the firm earned $1.81 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Intercontinental Exchange Company Profile

(Free Report)

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.

See Also

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).