UNIVEST FINANCIAL Corp Purchases Shares of 45,554 Intercontinental Exchange Inc. $ICE

UNIVEST FINANCIAL Corp acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, HoldingsChannel reports. The institutional investor acquired 45,554 shares of the financial services provider’s stock, valued at approximately $5,608,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ICE. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange in the fourth quarter valued at about $25,000. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. Swiss RE Ltd. acquired a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Lloyd Advisory Services LLC. acquired a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $30,000. Finally, Clearstead Trust LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $37,000. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company’s stock, valued at $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 18,376 shares of company stock valued at $2,746,946. 0.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ICE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. UBS Group reiterated a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. Finally, Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Stock Down 0.1%

Shares of ICE opened at $154.62 on Tuesday. The company has a market capitalization of $86.80 billion, a P/E ratio of 21.84, a PEG ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.72. The business’s 50 day simple moving average is $140.90 and its 200-day simple moving average is $151.97. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period last year, the firm posted $1.81 EPS. The business’s revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Intercontinental Exchange Profile

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.