Jupiter Topco LLC Invests $474.01 Million in Intercontinental Exchange Inc. $ICE

Jupiter Topco LLC purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,850,472 shares of the financial services provider’s stock, valued at approximately $474,012,000.

Other institutional investors have also recently bought and sold shares of the company. Ares Financial Consulting LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth $25,000. Rakuten Securities Inc. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $26,000. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $30,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.7%

Shares of NYSE ICE opened at $161.93 on Wednesday. The company’s fifty day moving average is $143.22 and its 200-day moving average is $151.53. The stock has a market cap of $90.90 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 1.58 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $179.20. 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 (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 EPS. Equities research analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. The trade was a 5.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 17,227 shares of company stock valued at $2,598,301 in the last three months. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ICE shares. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. Barclays reissued an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group reduced their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

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.