BW Gestao de Investimentos Ltda. Purchases New Stake in Intercontinental Exchange Inc. $ICE

BW Gestao de Investimentos Ltda. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,067 shares of the financial services provider’s stock, valued at approximately $11,996,000.

Several other institutional investors have also recently added to or reduced their stakes in ICE. PNC Financial Services Group Inc. increased its stake 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 purchasing an additional 10,742 shares during the last quarter. Rockland Trust Co. increased its stake in Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after purchasing an additional 20,981 shares during the last quarter. M&G PLC increased its stake in Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock valued at $17,988,000 after purchasing an additional 16,635 shares during the last quarter. Caprock Group LLC bought a new stake in Intercontinental Exchange during the third quarter valued at $2,788,000. Finally, Dover Advisors LLC bought a new stake in Intercontinental Exchange during the third quarter valued at $710,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 12,001 shares of company stock worth $1,847,820. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $145.23 on Tuesday. The firm has a 50-day moving average price of $157.12 and a 200 day moving average price of $160.10. The firm has a market capitalization of $82.13 billion, a PE ratio of 21.14, a P/E/G ratio of 1.38 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52-week low of $143.01 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. Intercontinental Exchange’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent research reports. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Barclays reiterated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. UBS Group reiterated a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $194.60.

Intercontinental Exchange Company 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.