DNB Asset Management AS Buys 12,807 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

DNB Asset Management AS grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,187 shares of the financial services provider’s stock after purchasing an additional 12,807 shares during the quarter. DNB Asset Management AS owned approximately 0.07% of Intercontinental Exchange worth $40,029,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. RB Capital Management LLC lifted its holdings in Intercontinental Exchange by 3.2% during the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 126 shares during the period. United Bank lifted its holdings in Intercontinental Exchange by 2.7% during the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after acquiring an additional 422 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in Intercontinental Exchange by 13.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 220 shares during the period. Sei Investments Co. lifted its holdings in Intercontinental Exchange by 31.5% during the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock worth $27,077,000 after acquiring an additional 49,081 shares during the period. Finally, Prudential PLC bought a new stake in Intercontinental Exchange during the first quarter worth $1,679,000. Institutional investors own 87.28% of the company’s stock.

Insider Activity

In related news, CEO Jeffrey C. Sprecher sold 81,827 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total transaction of $8,511,644.54. Following the completion of the transaction, the chief executive officer now directly owns 1,203,104 shares in the company, valued at $125,146,878.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total transaction of $167,680.00. Following the completion of the transaction, the senior vice president now directly owns 21,481 shares in the company, valued at $2,251,208.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 81,827 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total value of $8,511,644.54. Following the transaction, the chief executive officer now owns 1,203,104 shares of the company’s stock, valued at $125,146,878.08. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE traded down $2.23 during mid-day trading on Friday, hitting $97.00. The company had a trading volume of 6,093,991 shares, compared to its average volume of 3,395,266. The company has a market capitalization of $54.21 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 3.41 and a beta of 0.92. Intercontinental Exchange, Inc. has a 1 year low of $88.60 and a 1 year high of $137.40. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.80. The stock’s 50-day moving average price is $105.23 and its 200-day moving average price is $101.44.

Intercontinental Exchange (NYSE:ICE – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The financial services provider reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.01). The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Intercontinental Exchange had a net margin of 15.01% and a return on equity of 13.11%. Intercontinental Exchange’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.4 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 1.73%. Intercontinental Exchange’s payout ratio is 65.37%.

Wall Street Analyst Weigh In

A number of analysts recently commented on ICE shares. StockNews.com started coverage on Intercontinental Exchange in a report on Thursday. They set a “hold” rating on the stock. Rosenblatt Securities lifted their price target on Intercontinental Exchange from $164.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Raymond James lowered their target price on Intercontinental Exchange from $130.00 to $126.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 3rd. Keefe, Bruyette & Woods lowered their target price on Intercontinental Exchange from $125.00 to $122.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 1st. Finally, Citigroup boosted their target price on Intercontinental Exchange from $110.00 to $117.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.91.

Intercontinental Exchange Profile

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Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.