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

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 58.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,456 shares of the financial services provider’s stock after purchasing an additional 59,750 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Intercontinental Exchange were worth $25,394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of ICE. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth $28,000. Steph & Co. lifted its position in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the period. Swiss RE Ltd. acquired a new stake in Intercontinental Exchange during the 4th quarter worth about $28,000. Finally, Brooklands Fund Management Ltd purchased a new stake in Intercontinental Exchange during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.3%

ICE stock opened at $132.57 on Friday. The firm has a market cap of $74.97 billion, a PE ratio of 19.30, a P/E/G ratio of 1.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s fifty day moving average is $144.62 and its 200 day moving average is $156.46. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. On average, research analysts forecast that Intercontinental Exchange Inc. will post 8.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a report on Friday, March 6th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research report on Thursday, June 11th. The Goldman Sachs Group cut their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, TD Cowen dropped their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $188.58.

Insider Buying and Selling

In other news, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the transaction, the director owned 20,132 shares in the company, valued at $2,807,608.72. This trade represents a 6.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,425 shares of company stock valued at $2,046,324 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company 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.