Bessemer Group Inc. Boosts Position in Intercontinental Exchange Inc (ICE)

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Bessemer Group Inc. lifted its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 18.2% during the 4th quarter, HoldingsChannel reports. The fund owned 6,996 shares of the financial services provider’s stock after acquiring an additional 1,075 shares during the quarter. Bessemer Group Inc.’s holdings in Intercontinental Exchange were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ICE. Capital World Investors increased its position in Intercontinental Exchange by 464.9% in the third quarter. Capital World Investors now owns 15,031,546 shares of the financial services provider’s stock worth $1,125,712,000 after buying an additional 12,370,546 shares during the period. Oregon Public Employees Retirement Fund increased its position in Intercontinental Exchange by 7,340.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,677,692 shares of the financial services provider’s stock worth $62,000 after buying an additional 4,614,825 shares during the period. TIAA CREF Investment Management LLC increased its position in Intercontinental Exchange by 112.2% in the third quarter. TIAA CREF Investment Management LLC now owns 2,661,565 shares of the financial services provider’s stock worth $199,325,000 after buying an additional 1,407,479 shares during the period. Senator Investment Group LP increased its position in Intercontinental Exchange by 54.2% in the third quarter. Senator Investment Group LP now owns 3,700,000 shares of the financial services provider’s stock worth $277,093,000 after buying an additional 1,300,000 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in Intercontinental Exchange by 49.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,165,080 shares of the financial services provider’s stock worth $238,426,000 after buying an additional 1,054,057 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

In related news, General Counsel Andrew J. Surdykowski sold 2,500 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $75.42, for a total transaction of $188,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Benjamin Jackson sold 4,854 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $74.94, for a total value of $363,758.76. Following the transaction, the president now directly owns 79,717 shares of the company’s stock, valued at approximately $5,973,991.98. The disclosure for this sale can be found here. In the last three months, insiders sold 194,856 shares of company stock valued at $14,693,582. Company insiders own 1.50% of the company’s stock.

Several brokerages have weighed in on ICE. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Friday, November 30th. Berenberg Bank lowered Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $87.00 target price on the stock. in a research report on Tuesday, November 20th. Atlantic Securities began coverage on Intercontinental Exchange in a research report on Wednesday, November 28th. They issued an “overweight” rating on the stock. Citigroup raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and set a $75.63 target price on the stock in a research report on Tuesday, January 22nd. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Intercontinental Exchange in a research report on Thursday, February 7th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $85.55.

NYSE:ICE opened at $74.63 on Monday. Intercontinental Exchange Inc has a 1 year low of $67.70 and a 1 year high of $82.65. The firm has a market capitalization of $42.43 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.01 and a beta of 0.48. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.38.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 7th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a return on equity of 12.23% and a net margin of 31.68%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, sell-side analysts predict that Intercontinental Exchange Inc will post 3.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.10 annualized dividend and a dividend yield of 1.47%. Intercontinental Exchange’s payout ratio is 26.74%.

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Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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