Intercontinental Exchange Inc. $ICE Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 18.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,206 shares of the financial services provider’s stock after acquiring an additional 16,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Intercontinental Exchange were worth $18,935,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Princeton Global Asset Management LLC acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter worth about $28,000. Activest Wealth Management increased its holdings in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the period. Hilltop National Bank acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter worth about $31,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Intercontinental Exchange in the 1st quarter worth about $30,000. Finally, Accredited Wealth Management LLC acquired a new position in Intercontinental Exchange during the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 1.6%

Shares of ICE stock opened at $157.25 on Wednesday. The stock has a 50-day simple moving average of $167.48 and a 200 day simple moving average of $173.71. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock has a market capitalization of $90.01 billion, a P/E ratio of 30.18, a P/E/G ratio of 2.23 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Stuart Glen Williams sold 939 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the sale, the chief operating officer directly owned 16,624 shares in the company, valued at $2,859,992.96. The trade was a 5.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 240,162 shares of company stock worth $43,642,652. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research report on Monday, October 13th. Barclays reiterated an “overweight” rating and set a $201.00 price objective (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Finally, Morgan Stanley lowered their price target on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $198.60.

About Intercontinental Exchange

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.