DNB Asset Management AS Decreases Stake in Intercontinental Exchange Inc. $ICE

DNB Asset Management AS reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 47.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 134,591 shares of the financial services provider’s stock after selling 122,779 shares during the period. DNB Asset Management AS’s holdings in Intercontinental Exchange were worth $21,798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Applied Finance Capital Management LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth $721,000. Commerzbank Aktiengesellschaft FI raised its stake in shares of Intercontinental Exchange by 33.2% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 11,479 shares of the financial services provider’s stock worth $1,859,000 after buying an additional 2,860 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Intercontinental Exchange by 105.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 685,020 shares of the financial services provider’s stock worth $110,946,000 after buying an additional 352,345 shares during the last quarter. Dash Acquisitions Inc. raised its stake in shares of Intercontinental Exchange by 7.1% during the 4th quarter. Dash Acquisitions Inc. now owns 71,315 shares of the financial services provider’s stock worth $11,756,000 after buying an additional 4,720 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Intercontinental Exchange by 6.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 765,802 shares of the financial services provider’s stock worth $124,034,000 after buying an additional 47,473 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 11,303 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the transaction, the insider owned 14,266 shares of the company’s stock, valued at $2,194,396.12. This represents a 44.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the transaction, the chief executive officer directly owned 1,651,705 shares of the company’s stock, valued at approximately $256,014,275. This represents a 8.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 330,835 shares of company stock worth $51,275,650. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 0.8%

Shares of ICE stock opened at $154.48 on Friday. The firm has a 50-day moving average price of $159.26 and a 200 day moving average price of $159.94. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a market capitalization of $87.36 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.43 and a beta of 0.96. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating 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 company 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 company posted $1.72 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ICE shares. UBS Group reaffirmed a “buy” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Monday, February 9th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target for the company. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Finally, Weiss Ratings downgraded Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $194.10.

Intercontinental Exchange 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.