782,641 Shares in Intercontinental Exchange Inc. $ICE Purchased by Bain Capital Public Equity Management II LLC

Key Points

• Bain Capital Public Equity Management II LLC has acquired a new stake in Intercontinental Exchange Inc., purchasing 782,641 shares valued at approximately $135 million, making ICE its 5th largest holding.
• Institutional investors are increasingly interested in ICE, with substantial recent purchases from firms including Price T Rowe Associates and GAMMA Investing LLC, owning a combined 89.30% of the company's stock.
• Intercontinental Exchange reported a 9.8% year-over-year increase in revenue and beat earnings per share estimates in its last quarterly earnings, reflecting strong performance in the financial services sector.

Bain Capital Public Equity Management II LLC bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 782,641 shares of the financial services provider's stock, valued at approximately $135,006,000. Intercontinental Exchange comprises about 10.6% of Bain Capital Public Equity Management II LLC's holdings, making the stock its 5th biggest position. Bain Capital Public Equity Management II LLC owned about 0.14% of Intercontinental Exchange at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Tsfg LLC grew its holdings in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after buying an additional 103 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider's stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares during the last quarter. REAP Financial Group LLC boosted its holdings in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Intercontinental Exchange during the first quarter worth $30,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Barclays increased their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group increased their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director directly owned 14,299 shares of the company's stock, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 227,830 shares of company stock valued at $41,668,789. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Down 0.2%

NYSE:ICE traded down $0.26 during mid-day trading on Friday, hitting $174.26. The company had a trading volume of 3,104,192 shares, compared to its average volume of 2,714,532. The business has a fifty day simple moving average of $181.49 and a 200-day simple moving average of $174.83. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm has a market capitalization of $99.75 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.08 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company earned $1.52 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.