L1 Capital Pty Ltd Takes Position in Intercontinental Exchange Inc. $ICE

L1 Capital Pty Ltd bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 679,203 shares of the financial services provider’s stock, valued at approximately $110,004,000. Intercontinental Exchange makes up approximately 5.7% of L1 Capital Pty Ltd’s investment portfolio, making the stock its 7th biggest position. L1 Capital Pty Ltd owned approximately 0.12% of Intercontinental Exchange at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ICE. Brighton Jones LLC lifted its holdings in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 289 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Intercontinental Exchange by 27.9% during the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after acquiring an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after acquiring an additional 6,373 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,092 shares of company stock worth $1,860,424 over the last three months. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $140.26 on Friday. The stock has a market cap of $79.32 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.33 and a beta of 0.92. Intercontinental Exchange Inc. has a fifty-two week low of $136.67 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average of $154.22 and a 200-day moving average of $159.27.

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

Analysts Set New Price Targets

A number of brokerages recently commented on ICE. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. Barclays reaffirmed an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday. Morgan Stanley increased their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Finally, Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $193.00.

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.