Jacobs Levy Equity Management Inc. Has $16.50 Million Stake in Intercontinental Exchange Inc (NYSE:ICE)

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Jacobs Levy Equity Management Inc. lifted its position in Intercontinental Exchange Inc (NYSE:ICE) by 219.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,700 shares of the financial services provider’s stock after acquiring an additional 148,830 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Intercontinental Exchange were worth $16,500,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its position in Intercontinental Exchange by 6.4% during the 1st quarter. CWM LLC now owns 2,138 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 128 shares during the period. Chemical Bank boosted its holdings in shares of Intercontinental Exchange by 0.5% in the 1st quarter. Chemical Bank now owns 27,993 shares of the financial services provider’s stock valued at $2,131,000 after buying an additional 129 shares in the last quarter. Allred Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 4.0% in the 1st quarter. Allred Capital Management LLC now owns 3,489 shares of the financial services provider’s stock valued at $270,000 after buying an additional 133 shares in the last quarter. Rosenbaum Jay D. boosted its holdings in shares of Intercontinental Exchange by 1.8% in the 1st quarter. Rosenbaum Jay D. now owns 7,975 shares of the financial services provider’s stock valued at $607,000 after buying an additional 140 shares in the last quarter. Finally, Citizens Financial Group Inc RI boosted its holdings in shares of Intercontinental Exchange by 4.6% in the 1st quarter. Citizens Financial Group Inc RI now owns 3,240 shares of the financial services provider’s stock valued at $247,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.

NYSE ICE traded up $0.13 on Friday, hitting $84.70. 21,813 shares of the company’s stock traded hands, compared to its average volume of 2,266,482. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. Intercontinental Exchange Inc has a 1-year low of $69.69 and a 1-year high of $86.78. The stock has a market cap of $47.84 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.77 and a beta of 0.48.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Intercontinental Exchange had a net margin of 31.98% and a return on equity of 12.22%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Analysts forecast that Intercontinental Exchange Inc will post 3.75 EPS for the current year.

A number of analysts have recently weighed in on ICE shares. ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Deutsche Bank lowered their price target on shares of Intercontinental Exchange from $84.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Wells Fargo & Co raised their price target on shares of Intercontinental Exchange from $79.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, April 4th. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Finally, Bank of America set a $85.00 target price on shares of Intercontinental Exchange and gave the stock a “buy” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $85.55.

In other news, General Counsel Andrew J. Surdykowski sold 1,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $85.00, for a total transaction of $85,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Lynn C. Martin sold 2,500 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $85.01, for a total transaction of $212,525.00. Following the transaction, the chief operating officer now directly owns 28,495 shares of the company’s stock, valued at $2,422,359.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,712 shares of company stock valued at $14,843,289. Insiders own 1.50% of the company’s stock.

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About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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

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