Unisphere Establishment Raises Stake in Intercontinental Exchange Inc. $ICE

Unisphere Establishment lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 25.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 68,000 shares of the financial services provider’s stock after buying an additional 13,900 shares during the period. Unisphere Establishment’s holdings in Intercontinental Exchange were worth $10,695,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ICE. Brighton Jones LLC raised its holdings in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 1,169 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after purchasing an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in shares of Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after purchasing an additional 6,373 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Sharon Bowen sold 667 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ICE shares. TD Cowen dropped their target price on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a report on Monday, July 6th. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. UBS Group dropped their price objective on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, Barclays cut their price objective on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.58.

Intercontinental Exchange Trading Up 1.9%

Shares of ICE opened at $145.93 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $82.53 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 1.49 and a beta of 0.94. The stock’s fifty day simple moving average is $139.50 and its 200 day simple moving average is $154.08. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current year.

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.