Man Group plc Makes New Investment in Intercontinental Exchange Inc. $ICE

Man Group plc bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 403,752 shares of the financial services provider's stock, valued at approximately $49,706,000. Man Group plc owned 0.07% of Intercontinental Exchange at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. J. Stern & Co. LLP boosted its stake in Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider's stock valued at $8,763,214,000 after acquiring an additional 53,798,055 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $6,245,085,000. State Street Corp raised its position in shares of Intercontinental Exchange by 3.4% during the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider's stock valued at $4,154,914,000 after acquiring an additional 837,208 shares during the last quarter. Morgan Stanley lifted its stake in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider's stock valued at $2,571,212,000 after purchasing an additional 158,450 shares during the period. Finally, Norges Bank acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $1,418,228,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. TD Cowen reaffirmed a "buy" rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Piper Sandler cut their target price on Intercontinental Exchange from $211.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 15th. Barclays restated an "overweight" rating and set a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. Finally, Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $183.33.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,491 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total transaction of $389,343.30. Following the completion of the sale, the chief financial officer owned 22,698 shares of the company's stock, valued at $3,547,697.40. This represents a 9.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 17,227 shares of company stock valued at $2,598,301. Corporate insiders own 0.84% of the company's stock.

Intercontinental Exchange Stock Performance

ICE stock opened at $162.01 on Thursday. The business's 50-day moving average price is $143.78 and its two-hundred day moving average price is $151.48. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market cap of $90.95 billion, a PE ratio of 22.88, a P/E/G ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $179.20.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced 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. 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 the consensus estimate of $2.63 billion. During the same period in the prior year, the company earned $1.81 earnings per share. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

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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