Legal & General Group Plc Purchases 191,763 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Legal & General Group Plc lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,453,286 shares of the financial services provider’s stock after buying an additional 191,763 shares during the period. Legal & General Group Plc owned about 0.78% of Intercontinental Exchange worth $609,609,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Lighthouse Investment Partners LLC bought a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $510,000. MBB Public Markets I LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth $5,619,000. D. E. Shaw & Co. Inc. grew its holdings in Intercontinental Exchange by 6.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 753,309 shares of the financial services provider’s stock worth $103,120,000 after acquiring an additional 45,203 shares during the period. Daymark Wealth Partners LLC grew its holdings in shares of Intercontinental Exchange by 13.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 10,429 shares of the financial services provider’s stock valued at $1,428,000 after buying an additional 1,263 shares during the period. Finally, Employees Retirement System of Texas grew its holdings in shares of Intercontinental Exchange by 34.5% in the 2nd quarter. Employees Retirement System of Texas now owns 456,100 shares of the financial services provider’s stock valued at $62,436,000 after buying an additional 117,100 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,268 shares of company stock valued at $9,508,809. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $158.64 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $163.71. The stock has a market cap of $90.99 billion, a PE ratio of 36.39, a P/E/G ratio of 2.81 and a beta of 1.08. The firm has a 50 day simple moving average of $156.89 and a two-hundred day simple moving average of $143.46.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on ICE. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Royal Bank of Canada started coverage on shares of Intercontinental Exchange in a report on Friday. They issued an “outperform” rating and a $200.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their target price for the company from $143.00 to $167.00 in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.47.

Intercontinental Exchange 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.