Senator Investment Group LP Has $104.87 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Senator Investment Group LP boosted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 12.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 766,105 shares of the financial services provider’s stock after purchasing an additional 82,680 shares during the period. Intercontinental Exchange makes up approximately 5.1% of Senator Investment Group LP’s holdings, making the stock its 2nd biggest position. Senator Investment Group LP owned about 0.13% of Intercontinental Exchange worth $104,872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. American National Bank grew its position in shares of Intercontinental Exchange by 13.8% during the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after buying an additional 69 shares during the period. Catalyst Financial Partners LLC grew its holdings in shares of Intercontinental Exchange by 3.4% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after buying an additional 73 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Intercontinental Exchange by 1.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 74 shares during the period. Founders Financial Securities LLC lifted its position in Intercontinental Exchange by 4.8% in the 2nd quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 74 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. boosted its stake in Intercontinental Exchange by 0.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 75 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded down $1.13 during midday trading on Friday, hitting $161.47. 363,198 shares of the company were exchanged, compared to its average volume of 2,437,448. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The business has a fifty day simple moving average of $151.62 and a two-hundred day simple moving average of $140.99. The firm has a market capitalization of $92.62 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 2.84 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday. Argus reiterated a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.93.

Insider Buying and Selling at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at approximately $167,181,408.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the transaction, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at approximately $167,181,408.24. The disclosure for this sale can be found here. Insiders sold a total of 66,346 shares of company stock valued at $9,472,911 in the last ninety days. Insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

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.