Swedbank AB Has $414.82 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Swedbank AB lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 4.4% in the third quarter, HoldingsChannel reports. The firm owned 2,462,148 shares of the financial services provider’s stock after purchasing an additional 103,793 shares during the period. Swedbank AB’s holdings in Intercontinental Exchange were worth $414,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ICE. Princeton Global Asset Management LLC purchased a new stake in Intercontinental Exchange during the second quarter valued at about $28,000. Westside Investment Management Inc. acquired a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $29,000. Activest Wealth Management lifted its position 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 valued at $29,000 after acquiring an additional 162 shares in the last quarter. Hilltop National Bank acquired a new position in Intercontinental Exchange in the 2nd quarter worth approximately $31,000. Finally, Knuff & Co LLC grew its position in Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $153.65, for a total transaction of $241,537.80. Following the transaction, the chief financial officer owned 20,534 shares in the company, valued at approximately $3,155,049.10. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 5,345 shares of Intercontinental Exchange stock in a transaction on Monday, December 8th. The shares were sold at an average price of $156.67, for a total transaction of $837,401.15. Following the completion of the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,221,150.80. The trade was a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 176,150 shares of company stock valued at $27,072,531. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Barclays set a $183.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Wednesday, December 17th. UBS Group dropped their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $194.30.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $161.91 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock’s 50-day moving average is $155.22 and its two-hundred day moving average is $169.20. The firm has a market cap of $92.32 billion, a P/E ratio of 29.49, a PEG ratio of 2.28 and a beta of 1.05.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 EPS. Analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

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.