Quantbot Technologies LP Acquires New Stake in Intercontinental Exchange Inc. $ICE

Quantbot Technologies LP bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 121,645 shares of the financial services provider’s stock, valued at approximately $14,976,000. Intercontinental Exchange makes up approximately 0.6% of Quantbot Technologies LP’s portfolio, making the stock its 8th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ICE. PNC Financial Services Group Inc. boosted its holdings in Intercontinental Exchange by 5.9% in 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 in the last quarter. BlackRock Inc. acquired a new stake in Intercontinental Exchange during the second quarter worth approximately $6,245,085,000. USS Investment Management Ltd raised its holdings in Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after purchasing an additional 256,851 shares in the last quarter. Walter Public Investments Inc. lifted its position in shares of Intercontinental Exchange by 13.8% during the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after buying an additional 15,129 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after buying an additional 413,639 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the sale, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 20,200 shares of company stock valued at $3,035,385. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $161.29 on Friday. The firm has a market cap of $90.55 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.58 and a beta of 0.92. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.65. The business’s 50-day moving average price is $142.34 and its 200 day moving average price is $151.69. 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 announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion for 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%. Intercontinental Exchange’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ICE. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group reissued a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. The Goldman Sachs Group dropped their price objective 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 reiterated a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $183.33.

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.