Intercontinental Exchange Inc. $ICE Shares Acquired by Bessemer Group Inc.

Bessemer Group Inc. lifted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 5.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,955,623 shares of the financial services provider’s stock after acquiring an additional 145,374 shares during the period. Intercontinental Exchange accounts for 0.8% of Bessemer Group Inc.’s investment portfolio, making the stock its 20th biggest holding. Bessemer Group Inc.’s holdings in Intercontinental Exchange were worth $497,964,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Optivise Advisory Services LLC raised its stake in shares of Intercontinental Exchange by 3.1% in the second quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 54 shares during the last quarter. ICONIQ Capital LLC boosted its position in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after buying an additional 56 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in Intercontinental Exchange by 5.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after buying an additional 58 shares during the period. Ledyard National Bank raised its position in Intercontinental Exchange by 4.3% during the 2nd quarter. Ledyard National Bank now owns 1,512 shares of the financial services provider’s stock worth $277,000 after buying an additional 62 shares during the last quarter. Finally, Elyxium Wealth LLC lifted its stake in Intercontinental Exchange by 1.2% during the 2nd quarter. Elyxium Wealth LLC now owns 5,087 shares of the financial services provider’s stock valued at $933,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ICE. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down previously from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. UBS Group reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 7th. JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Wall Street Zen downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, January 24th. Finally, Barclays set a $182.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $193.50.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $164.60 on Thursday. 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 52 week low of $143.17 and a 52 week high of $189.35. The stock’s 50-day moving average price is $164.73 and its 200-day moving average price is $166.58. The stock has a market capitalization of $93.85 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 5,345 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the sale, the chief technology officer directly owned 65,240 shares in the company, valued at $10,221,150.80. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $163.20, for a total value of $261,120.00. Following the transaction, the senior vice president owned 24,196 shares in the company, valued at $3,948,787.20. This trade represents a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 166,068 shares of company stock valued at $25,470,702 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

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.