Jane Street Group LLC Grows Position in Intercontinental Exchange Inc (ICE)

Jane Street Group LLC increased its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 143.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,801 shares of the financial services provider’s stock after purchasing an additional 5,774 shares during the quarter. Jane Street Group LLC’s holdings in Intercontinental Exchange were worth $673,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ICE. Bessemer Group Inc. lifted its holdings in shares of Intercontinental Exchange by 186.5% during the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,240 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Intercontinental Exchange by 2.5% during the second quarter. Advisors Asset Management Inc. now owns 78,772 shares of the financial services provider’s stock worth $5,193,000 after purchasing an additional 1,914 shares during the period. Legal & General Group Plc lifted its holdings in shares of Intercontinental Exchange by 2.4% during the second quarter. Legal & General Group Plc now owns 2,751,936 shares of the financial services provider’s stock worth $181,408,000 after purchasing an additional 63,551 shares during the period. GW Henssler & Associates Ltd. lifted its holdings in shares of Intercontinental Exchange by 2.4% during the second quarter. GW Henssler & Associates Ltd. now owns 224,372 shares of the financial services provider’s stock worth $14,791,000 after purchasing an additional 5,223 shares during the period. Finally, Highstreet Asset Management Inc. acquired a new stake in shares of Intercontinental Exchange during the second quarter worth about $445,000. 90.83% of the stock is owned by hedge funds and other institutional investors.

Shares of Intercontinental Exchange Inc (NYSE:ICE) traded down $0.16 during trading hours on Friday, reaching $70.32. The company’s stock had a trading volume of 2,982,000 shares, compared to its average volume of 2,663,100. Intercontinental Exchange Inc has a one year low of $55.79 and a one year high of $72.99. The firm has a market capitalization of $41,232.65, a P/E ratio of 24.14, a PEG ratio of 2.61 and a beta of 0.73. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the company posted $0.64 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 6.0% on a year-over-year basis. equities research analysts anticipate that Intercontinental Exchange Inc will post 2.95 EPS for the current year.

Intercontinental Exchange declared that its Board of Directors has authorized a stock buyback program on Thursday, November 2nd that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

ICE has been the subject of a number of research reports. Barclays lifted their target price on Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. UBS boosted their price target on Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Jefferies Group reissued a “buy” rating and issued a $73.00 price target on shares of Intercontinental Exchange in a report on Wednesday, August 23rd. Citigroup boosted their price target on Intercontinental Exchange from $75.00 to $77.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.30.

In other news, Director Jean Marc Forneri sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $70.68, for a total transaction of $565,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott A. Hill sold 37,630 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total value of $2,635,228.90. The disclosure for this sale can be found here. Insiders sold 78,130 shares of company stock valued at $5,468,644 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

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About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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