Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Stock Position in Intercontinental Exchange Inc. $ICE

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 18.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,206 shares of the financial services provider’s stock after purchasing an additional 16,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Intercontinental Exchange were worth $18,935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock valued at $9,132,211,000 after purchasing an additional 712,179 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares during the last quarter. Amundi boosted its stake in Intercontinental Exchange by 14.7% during the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after acquiring an additional 810,938 shares during the last quarter. Independent Franchise Partners LLP boosted its stake in Intercontinental Exchange by 0.5% during the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock valued at $1,068,193,000 after acquiring an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after acquiring an additional 3,165,381 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 1.6%

Shares of NYSE:ICE opened at $157.25 on Wednesday. The stock has a market capitalization of $90.01 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 2.23 and a beta of 1.08. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company’s fifty day moving average is $167.48 and its two-hundred day moving average is $173.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 earnings per share. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director directly owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This represents a 12.46% 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, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the sale, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 240,162 shares of company stock valued at $43,642,652 in the last ninety days. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ICE shares. Barclays reiterated an “overweight” rating and set a $201.00 price objective (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a research note on Monday, October 13th. Morgan Stanley reduced their price objective on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.60.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.