Handelsbanken Fonder AB Reduces Position in Intercontinental Exchange Inc. $ICE

Handelsbanken Fonder AB trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,279 shares of the financial services provider’s stock after selling 19,932 shares during the period. Handelsbanken Fonder AB’s holdings in Intercontinental Exchange were worth $36,439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Westside Investment Management Inc. purchased a new stake in Intercontinental Exchange in the second quarter worth about $29,000. Knuff & Co LLC grew its stake in shares of Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Private Wealth Management Group LLC increased its holdings in Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 66 shares in the last quarter. Capital A Wealth Management LLC raised its stake in Intercontinental Exchange by 26,000.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 260 shares during the period. Finally, NewSquare Capital LLC lifted its holdings in Intercontinental Exchange by 32.0% during the second quarter. NewSquare Capital LLC now owns 272 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 66 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.7%

Shares of ICE opened at $164.05 on Friday. The business’s 50 day simple moving average is $164.47 and its 200-day simple moving average is $163.57. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $93.17 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 1.70 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. Intercontinental Exchange’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 33.28%.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total value of $23,250,000.00. Following the completion of the transaction, the chief executive officer owned 1,651,705 shares in the company, valued at approximately $256,014,275. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 12,861 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total value of $2,122,065.00. Following the sale, the president owned 165,692 shares in the company, valued at approximately $27,339,180. This trade represents a 7.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 354,492 shares of company stock valued at $55,139,102 in the last quarter. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on ICE shares. Royal Bank Of Canada restated an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $195.40.

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.