Hsbc Holdings PLC Acquires New Holdings in Intercontinental Exchange Inc. $ICE

Hsbc Holdings PLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,782,075 shares of the financial services provider’s stock, valued at approximately $219,180,000. Hsbc Holdings PLC owned about 0.32% of Intercontinental Exchange as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ares Financial Consulting LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Swiss RE Ltd. bought a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. bought a new stake in Intercontinental Exchange in the second quarter valued at about $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $161.93 on Wednesday. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $179.20. The stock has a market capitalization of $90.90 billion, a PE ratio of 22.87, a PEG ratio of 1.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s fifty day moving average is $143.22 and its 200-day moving average is $151.53.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate 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 expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on ICE shares. Barclays restated an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research report on Thursday, June 11th. TD Cowen reiterated a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. The Goldman Sachs Group reduced their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $183.33.

Insider Activity at Intercontinental Exchange

In other news, 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 completion of the sale, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,491 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the sale, the chief financial officer owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. The trade was a 9.89% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 17,227 shares of company stock worth $2,598,301. 0.84% of the stock is currently owned by company insiders.

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.