Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by SPC Financial Inc.

SPC Financial Inc. grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,234 shares of the financial services provider’s stock after purchasing an additional 572 shares during the period. SPC Financial Inc.’s holdings in Intercontinental Exchange were worth $3,591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisory Alpha LLC boosted its holdings in shares of Intercontinental Exchange by 35.4% in the second quarter. Advisory Alpha LLC now owns 2,042 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 534 shares in the last quarter. Senator Investment Group LP lifted its position in Intercontinental Exchange by 12.1% in the second quarter. Senator Investment Group LP now owns 766,105 shares of the financial services provider’s stock valued at $104,872,000 after purchasing an additional 82,680 shares during the period. EP Wealth Advisors LLC boosted its holdings in Intercontinental Exchange by 9.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,665 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 559 shares in the last quarter. Ironwood Investment Management LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $569,000. Finally, Nemes Rush Group LLC raised its stake in shares of Intercontinental Exchange by 1.9% during the 2nd quarter. Nemes Rush Group LLC now owns 52,155 shares of the financial services provider’s stock worth $7,139,000 after buying an additional 985 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ICE. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Barclays upped their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. TD Cowen started coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Citigroup boosted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $162.47.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $160.64 on Tuesday. The company has a market cap of $92.14 billion, a P/E ratio of 36.84, a P/E/G ratio of 2.81 and a beta of 1.08. The business has a fifty day simple moving average of $157.12 and a 200-day simple moving average of $143.72. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the business posted $1.43 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 22.7% compared to the same quarter last year. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Insider Activity at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Mayur Kapani sold 395 shares of the business’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 completion of the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the sale, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,316 shares of company stock worth $9,835,609. 1.10% of the stock is currently owned by company insiders.

About Intercontinental Exchange

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.