Forsta AP Fonden Increases Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Forsta AP Fonden boosted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) by 23.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,800 shares of the financial services provider’s stock after acquiring an additional 25,200 shares during the quarter. Forsta AP Fonden’s holdings in Intercontinental Exchange were worth $17,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ICE. Commonwealth Equity Services LLC boosted its stake in shares of Intercontinental Exchange by 13.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 34,378 shares of the financial services provider’s stock valued at $4,701,000 after buying an additional 4,203 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of Intercontinental Exchange by 1,689.2% in the 4th quarter. Qube Research & Technologies Ltd now owns 144,676 shares of the financial services provider’s stock valued at $19,787,000 after buying an additional 136,590 shares during the period. Waldron Private Wealth LLC boosted its stake in shares of Intercontinental Exchange by 7.9% in the 4th quarter. Waldron Private Wealth LLC now owns 3,104 shares of the financial services provider’s stock valued at $424,000 after buying an additional 228 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Intercontinental Exchange by 6.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 76,884 shares of the financial services provider’s stock valued at $10,515,000 after buying an additional 4,467 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Intercontinental Exchange by 12.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 252,452 shares of the financial services provider’s stock valued at $34,365,000 after buying an additional 28,774 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Intercontinental Exchange Trading Down 2.3 %

ICE opened at $105.02 on Friday. The firm has a market cap of $58.63 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 2.75 and a beta of 0.90. Intercontinental Exchange, Inc. has a 52 week low of $90.05 and a 52 week high of $139.79. The business’s 50 day moving average is $97.85 and its two-hundred day moving average is $113.33. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.79.

Intercontinental Exchange (NYSE:ICEGet Rating) last released its earnings results on Thursday, August 4th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. Intercontinental Exchange had a return on equity of 13.52% and a net margin of 35.58%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. On average, research analysts predict that Intercontinental Exchange, Inc. will post 5.36 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.45%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 25.46%.

Insider Activity at Intercontinental Exchange

In related news, Director William Jefferson Hague sold 583 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $97.66, for a total value of $56,935.78. Following the sale, the director now directly owns 16,127 shares in the company, valued at $1,574,962.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Intercontinental Exchange news, Director William Jefferson Hague sold 583 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $97.66, for a total transaction of $56,935.78. Following the sale, the director now directly owns 16,127 shares in the company, valued at $1,574,962.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 83,621 shares of the business’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $98.97, for a total value of $8,275,970.37. Following the sale, the chief executive officer now owns 1,277,280 shares in the company, valued at $126,412,401.60. The disclosure for this sale can be found here. Insiders have sold a total of 86,296 shares of company stock worth $8,537,490 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on ICE. Morgan Stanley lifted their price objective on Intercontinental Exchange from $145.00 to $147.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 13th. Citigroup cut their target price on Intercontinental Exchange from $160.00 to $152.00 in a research report on Wednesday, April 13th. Raymond James cut their target price on Intercontinental Exchange from $142.00 to $126.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, June 22nd. UBS Group cut their target price on Intercontinental Exchange from $134.00 to $126.00 in a research report on Monday, July 11th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Intercontinental Exchange from $114.00 to $124.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.91.

About Intercontinental Exchange

(Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

Further Reading

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

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