Bishop Rock Capital L.P. Sells 29,080 Shares of Intercontinental Exchange Inc (NYSE:ICE)

Bishop Rock Capital L.P. cut its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 26.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,848 shares of the financial services provider’s stock after selling 29,080 shares during the period. Intercontinental Exchange comprises about 3.9% of Bishop Rock Capital L.P.’s investment portfolio, making the stock its 10th biggest holding. Bishop Rock Capital L.P.’s holdings in Intercontinental Exchange were worth $5,486,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in Intercontinental Exchange by 1,254.2% in the second quarter. Janus Henderson Group PLC now owns 9,048,533 shares of the financial services provider’s stock worth $596,480,000 after acquiring an additional 8,380,362 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Intercontinental Exchange by 19.9% during the second quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock valued at $748,538,000 after buying an additional 1,883,432 shares during the last quarter. Prudential PLC raised its holdings in shares of Intercontinental Exchange by 39,517.6% during the second quarter. Prudential PLC now owns 1,481,301 shares of the financial services provider’s stock valued at $97,647,000 after buying an additional 1,477,562 shares during the last quarter. BT Investment Management Ltd bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $97,240,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $69,836,000. 89.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of Intercontinental Exchange Inc (ICE) traded up $0.04 on Friday, reaching $70.56. 1,865,336 shares of the company traded hands, compared to its average volume of 2,553,796. The company has a market cap of $41,256.04, a P/E ratio of 25.66, a PEG ratio of 2.61 and a beta of 0.73. Intercontinental Exchange Inc has a 12-month low of $55.79 and a 12-month high of $72.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

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

Intercontinental Exchange announced that its board has authorized a share 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 purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of research firms recently commented on ICE. Zacks Investment Research lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Barclays started coverage on shares of Intercontinental Exchange in a research report on Friday, September 8th. They issued an “overweight” rating and a $72.00 price target on the stock. Citigroup raised their price objective on shares of Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Finally, Wells Fargo & Co raised their price objective on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 5th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Intercontinental Exchange presently has a consensus rating of “Buy” and an average target price of $75.00.

In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 7,500 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $71.93, for a total value of $539,475.00. Following the transaction, the insider now directly owns 377,471 shares in the company, valued at $27,151,489.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 disclosure for this sale can be found here. In the last three months, insiders sold 78,130 shares of company stock worth $5,468,644. 1.50% of the stock is currently owned by insiders.

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Intercontinental Exchange Profile

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.

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

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