3,850,472 Shares in Intercontinental Exchange Inc. $ICE Acquired by Jupiter Topco LLC

Jupiter Topco LLC acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,850,472 shares of the financial services provider’s stock, valued at approximately $474,012,000. Jupiter Topco LLC owned about 0.69% of Intercontinental Exchange at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of Intercontinental Exchange by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after purchasing an additional 10,742 shares during the period. BlackRock Inc. acquired a new stake in Intercontinental Exchange during the 2nd quarter valued at $6,245,085,000. USS Investment Management Ltd lifted its position in shares of Intercontinental Exchange by 37.2% in the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after purchasing an additional 256,851 shares in the last quarter. Walter Public Investments Inc. raised its holdings in shares of Intercontinental Exchange by 13.8% during the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after acquiring an additional 15,129 shares in the last quarter. Finally, Nicholas Company Inc. raised its position in Intercontinental Exchange by 10.1% during the fourth quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock valued at $70,802,000 after acquiring an additional 40,240 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $161.93 on Wednesday. The business has a 50 day simple moving average of $143.22 and a 200 day simple moving average of $151.53. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $90.90 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $179.20.

Intercontinental Exchange (NYSE:ICE) last announced 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. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.81 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insider Activity

In other Intercontinental Exchange news, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the transaction, the senior vice president directly owned 19,063 shares in the company, valued at $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total transaction of $389,343.30. Following the sale, the chief financial officer directly owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. The trade was a 9.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 17,227 shares of company stock valued at $2,598,301. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ICE. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. TD Cowen reissued 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, Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research note on Monday, July 6th. 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 MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $183.33.

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.