45,554 Shares in Intercontinental Exchange Inc. $ICE Bought by UNIVEST FINANCIAL Corp

Key Points

• UNIVEST FINANCIAL Corp acquired 45,554 shares of Intercontinental Exchange, valued at approximately $5.6 million. Institutional investors and hedge funds collectively own 89.3% of ICE.
• ICE reported quarterly earnings of $1.90 per share, beating estimates of $1.84, while revenue rose 4.8% year over year to $3.61 billion. Shares opened at $154.62, below the 12-month high of $181.72.
• Analysts maintain a generally positive outlook, with the stock rated “Moderate Buy” and an average price target of $183.33, although some firms recently lowered their targets. Company insiders sold 18,376 shares worth about $2.75 million over the past three months.

UNIVEST FINANCIAL Corp acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 45,554 shares of the financial services provider's stock, valued at approximately $5,608,000.

Several other hedge funds also recently bought and sold shares of the company. ICONIQ Capital LLC lifted its holdings in shares of Intercontinental Exchange by 2.2% during 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 raised its position in Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock valued at $423,000 after acquiring an additional 62 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Intercontinental Exchange by 1.5% in the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock valued at $681,000 after acquiring an additional 63 shares during the last quarter. Johnson Financial Group LLC grew its position in Intercontinental Exchange by 4.0% in the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider's stock worth $277,000 after acquiring an additional 65 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Intercontinental Exchange by 33.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 68 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $154.62 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The business's 50 day moving average is $140.90 and its two-hundred day moving average is $151.97. The company has a market cap of $86.80 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $181.72.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered 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 report on Tuesday, June 30th. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a report on Monday, July 6th. UBS Group restated a "buy" rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Morgan Stanley lowered 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. Finally, Barclays restated an "overweight" rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average target price of $183.33.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares of the company's stock, valued at $10,279,785.60. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sharon Bowen sold 667 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company's stock, valued at $2,280,848.56. This represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 18,376 shares of company stock valued at $2,746,946 in the last three months. Company insiders own 0.84% of the company's stock.

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.

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