Jefferies Financial Group Inc. Invests $1.39 Million in Intercontinental Exchange Inc. $ICE

Key Points

• Jefferies Financial Group acquired 11,273 Intercontinental Exchange shares worth approximately $1.39 million in the second quarter. Institutional investors collectively own 89.30% of ICE.
• ICE reported quarterly EPS of $1.90, exceeding the $1.84 consensus estimate, while revenue reached $3.61 billion and increased 4.8% year over year.
• Insiders sold 23,141 shares valued at $3.55 million over the past 90 days. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $183.33, above the reported $162.46 share price.

Jefferies Financial Group Inc. acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,273 shares of the financial services provider's stock, valued at approximately $1,388,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC increased its holdings in Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock valued at $2,483,000 after buying an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock worth $381,000 after purchasing an additional 289 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock worth $3,892,000 after buying an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock valued at $48,894,000 after acquiring an additional 6,373 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Martha A. Tirinnanzi sold 1,340 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $161.16, for a total value of $215,954.40. Following the completion of the sale, the director owned 3,747 shares of the company's stock, valued at $603,866.52. The trade was a 26.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Warren Gardiner sold 2,491 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the transaction, the chief financial officer owned 22,698 shares of the company's stock, valued at $3,547,697.40. The trade was a 9.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 23,141 shares of company stock valued at $3,554,192. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $162.46 on Friday. The stock has a market capitalization of $91.20 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.58 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $177.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm's 50-day moving average is $144.90 and its two-hundred day moving average is $151.50.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ICE shares. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. UBS Group restated a "buy" rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Weiss Ratings raised Intercontinental Exchange from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. The Goldman Sachs Group decreased their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Finally, Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a report on Monday, July 6th. One investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $183.33.

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.

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