Tredje AP fonden lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 67.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,518 shares of the financial services provider’s stock after selling 150,872 shares during the quarter. Tredje AP fonden’s holdings in Intercontinental Exchange were worth $11,745,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Wellington Management Group LLP lifted its stake in shares of Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after acquiring an additional 4,067,922 shares during the last quarter. Mawer Investment Management Ltd. increased its holdings in Intercontinental Exchange by 179.1% in the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock valued at $416,544,000 after purchasing an additional 1,586,620 shares during the period. Waverton Investment Management Ltd increased its holdings in Intercontinental Exchange by 28,886.8% in the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after purchasing an additional 1,521,467 shares during the period. Swedbank AB grew its holdings in Intercontinental Exchange by 43.3% during the 4th quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock worth $571,252,000 after acquiring an additional 1,064,967 shares during the period. Finally, Capital World Investors grew its holdings in Intercontinental Exchange by 15.2% during the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock worth $1,184,238,000 after acquiring an additional 928,047 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on ICE shares. Piper Sandler reiterated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Weiss Ratings lowered Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Friday, March 6th. Finally, Barclays restated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and a consensus target price of $194.10.
Intercontinental Exchange Stock Down 1.2%
Shares of Intercontinental Exchange stock opened at $154.18 on Wednesday. The firm has a market cap of $87.19 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 1.44 and a beta of 0.96. The stock’s 50-day moving average is $158.87 and its 200 day moving average is $159.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 EPS. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.
Insider Activity at Intercontinental Exchange
In other news, President Benjamin Jackson sold 3,865 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.73, for a total transaction of $594,166.45. Following the transaction, the president owned 165,304 shares of the company’s stock, valued at $25,412,183.92. This represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the transaction, the general counsel directly owned 48,181 shares in the company, valued at $7,805,322. This trade represents a 8.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 39,956 shares of company stock worth $6,190,895. 0.84% of the stock is currently owned by insiders.
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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