Bessemer Group Inc. Sells 113,304 Shares of Intercontinental Exchange Inc. $ICE

Bessemer Group Inc. trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 3.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,778,612 shares of the financial services provider’s stock after selling 113,304 shares during the period. Intercontinental Exchange makes up approximately 0.7% of Bessemer Group Inc.’s holdings, making the stock its 23rd biggest holding. Bessemer Group Inc.’s holdings in Intercontinental Exchange were worth $437,021,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ICE. Independent Financial Group LLC acquired a new stake in Intercontinental Exchange in the first quarter worth $371,000. D.A. Davidson & CO. grew its position in shares of Intercontinental Exchange by 23.7% in the 1st quarter. D.A. Davidson & CO. now owns 35,038 shares of the financial services provider’s stock valued at $5,511,000 after purchasing an additional 6,716 shares during the period. Twin Capital Management Inc. increased its stake in Intercontinental Exchange by 11.7% during the 1st quarter. Twin Capital Management Inc. now owns 3,718 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 389 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH raised its holdings in Intercontinental Exchange by 12.5% during the 1st quarter. MASTERINVEST Kapitalanlage GmbH now owns 13,612 shares of the financial services provider’s stock worth $2,141,000 after buying an additional 1,511 shares during the period. Finally, SouthState Bank Corp raised its holdings in Intercontinental Exchange by 1.3% during the 1st quarter. SouthState Bank Corp now owns 81,000 shares of the financial services provider’s stock worth $12,740,000 after buying an additional 1,012 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 1.3%

Shares of ICE stock opened at $141.63 on Friday. The firm’s fifty day moving average price is $141.16 and its two-hundred day moving average price is $154.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35. The firm has a market capitalization of $80.09 billion, a P/E ratio of 20.62, a PEG ratio of 1.43 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 EPS. On average, equities analysts predict that Intercontinental Exchange Inc. will post 8.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ICE shares. Barclays reduced their price target on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Piper Sandler cut their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley cut their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. TD Cowen decreased their price objective on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Finally, UBS Group dropped their target price on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. One research 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $181.58.

Insider Activity

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 13,425 shares of company stock valued at $2,046,324. Corporate insiders own 0.84% of the company’s stock.

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.