Bessemer Group Inc. Buys 376,420 Shares of Intercontinental Exchange Inc. $ICE

Bessemer Group Inc. grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 15.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,810,249 shares of the financial services provider’s stock after purchasing an additional 376,420 shares during the quarter. Intercontinental Exchange makes up approximately 0.8% of Bessemer Group Inc.’s investment portfolio, making the stock its 18th largest holding. Bessemer Group Inc. owned approximately 0.49% of Intercontinental Exchange worth $515,596,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in shares of Intercontinental Exchange in the second quarter valued at about $28,000. Tsfg LLC raised its position in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 103 shares during the period. Activest Wealth Management raised its position in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares during the period. Hilltop National Bank acquired a new position in shares of Intercontinental Exchange in the second quarter valued at about $31,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange in the first quarter valued at about $30,000. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares in the company, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 240,162 shares of company stock worth $43,642,652 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Up 0.2%

Shares of Intercontinental Exchange stock opened at $157.71 on Monday. The company has a market capitalization of $90.28 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.20 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The firm’s 50-day moving average price is $168.26 and its two-hundred day moving average price is $173.68.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company posted $1.52 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

ICE has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. UBS Group upped their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research note on Monday, October 13th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday. Finally, Barclays restated an “overweight” rating and issued a $201.00 price target (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. One equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $198.60.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.