Carmignac Gestion Purchases 920,153 Shares of Intercontinental Exchange Inc. $ICE

Carmignac Gestion increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 80.0% in the second quarter, Holdings Channel reports. The fund owned 2,070,226 shares of the financial services provider’s stock after purchasing an additional 920,153 shares during the quarter. Intercontinental Exchange accounts for approximately 3.3% of Carmignac Gestion’s portfolio, making the stock its 11th largest position. Carmignac Gestion’s holdings in Intercontinental Exchange were worth $254,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in 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 buying an additional 10,742 shares during the period. BlackRock Inc. purchased a new stake in Intercontinental Exchange during the second quarter worth $6,245,085,000. USS Investment Management Ltd lifted its holdings in Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after buying an additional 256,851 shares during the period. Walter Public Investments Inc. boosted its position in Intercontinental Exchange by 13.8% during the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after acquiring an additional 15,129 shares in the last quarter. Finally, Nicholas Company Inc. increased its holdings in shares of Intercontinental Exchange by 10.1% in the 4th 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 during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, President Benjamin Jackson sold 12,862 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the sale, the president owned 164,264 shares in the company, valued at approximately $26,297,023.76. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $160.00, for a total transaction of $256,000.00. Following the completion of the transaction, the senior vice president directly owned 17,463 shares of the company’s stock, valued at $2,794,080. The trade was a 8.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 40,912 shares of company stock valued at $6,403,616. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Down 2.2%

Shares of Intercontinental Exchange stock traded down $3.59 during trading on Tuesday, reaching $157.67. The company’s stock had a trading volume of 5,725,995 shares, compared to its average volume of 3,956,329. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $176.59. The company has a 50-day simple moving average of $149.58 and a two-hundred day simple moving average of $151.68. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market cap of $88.51 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 1.57 and a beta of 0.93.

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

Analyst Ratings Changes

ICE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen reiterated a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. The Goldman Sachs Group reduced their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Raymond James Financial restated a “strong-buy” rating and issued a $218.00 price target on shares of Intercontinental Exchange in a report on Tuesday, September 1st. Finally, Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $184.17.

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.