Man Group plc Takes Position in Intercontinental Exchange Inc. $ICE

Man Group plc acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, HoldingsChannel.com reports. The fund acquired 403,752 shares of the financial services provider’s stock, valued at approximately $49,706,000.

Several other large investors have also added to or reduced their stakes in ICE. ICONIQ Capital LLC increased its stake in Intercontinental Exchange by 2.2% in the 2nd 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. Mission Wealth Management LP boosted its stake in shares of Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after buying an additional 62 shares during the last quarter. Johnson Financial Group LLC grew its holdings in shares of Intercontinental Exchange by 4.0% in the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 65 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Intercontinental Exchange by 33.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 68 shares in the last quarter. Finally, Burns J W & Co. Inc. NY increased its position in shares of Intercontinental Exchange by 0.6% in the first quarter. Burns J W & Co. Inc. NY now owns 12,189 shares of the financial services provider’s stock valued at $1,917,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $162.01 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $179.20. The business has a 50 day moving average of $143.78 and a 200-day moving average of $151.48. The stock has a market cap of $90.95 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the prior year, the business earned $1.81 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on ICE. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research report on Friday, July 31st. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. TD Cowen reissued a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a report on Monday, July 6th. One investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total transaction of $389,343.30. Following the completion of the sale, the chief financial officer owned 22,698 shares in the company, valued at approximately $3,547,697.40. This trade represents a 9.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 7,300 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the transaction, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. This trade represents a 27.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 17,227 shares of company stock valued at $2,598,301 over the last three months. Company insiders own 0.84% of the company’s stock.

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.