KLP Kapitalforvaltning AS Boosts Stake in Intercontinental Exchange Inc. $ICE

KLP Kapitalforvaltning AS grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 207,385 shares of the financial services provider’s stock after acquiring an additional 11,900 shares during the period. KLP Kapitalforvaltning AS’s holdings in Intercontinental Exchange were worth $38,049,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ICE. Advisors Capital Management LLC increased its holdings in Intercontinental Exchange by 25.0% during the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 396 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Intercontinental Exchange during the first quarter worth approximately $349,000. Sequoia Financial Advisors LLC increased its stake in shares of Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock worth $2,099,000 after buying an additional 1,879 shares during the last quarter. Ritholtz Wealth Management increased its stake in shares of Intercontinental Exchange by 52.3% in the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider’s stock worth $1,372,000 after buying an additional 2,732 shares during the last quarter. Finally, First American Bank raised its holdings in Intercontinental Exchange by 2.1% in the first quarter. First American Bank now owns 76,332 shares of the financial services provider’s stock valued at $13,167,000 after acquiring an additional 1,580 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,951,705 shares of the company’s stock, valued at $357,337,668.45. The trade was a 7.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 230,874 shares of company stock valued at $42,187,714. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Down 2.3%

NYSE:ICE opened at $158.96 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $176.06 and a 200-day moving average of $174.56. The firm has a market capitalization of $90.99 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm posted $1.52 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Piper Sandler lifted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Barclays boosted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday, September 27th. Finally, Morgan Stanley lowered their price target on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $198.20.

Intercontinental Exchange Company 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.