Intercontinental Exchange Inc. $ICE Shares Purchased by Tredje AP fonden

Tredje AP fonden increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 41.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,390 shares of the financial services provider’s stock after purchasing an additional 51,002 shares during the period. Tredje AP fonden’s holdings in Intercontinental Exchange were worth $31,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ICE. Princeton Global Asset Management LLC acquired a new stake in Intercontinental Exchange during the second quarter worth about $28,000. Activest Wealth Management boosted its stake in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in shares of Intercontinental Exchange during the first quarter valued at about $30,000. Hilltop National Bank purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $31,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange in the 1st quarter valued at approximately $33,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. TD Cowen reduced their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley reduced their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday. Finally, Piper Sandler boosted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $191.82.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on 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 owned 1,951,705 shares in the company, valued at $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 240,162 shares of company stock valued at $43,642,652 over the last three months. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 1.6%

Shares of ICE opened at $146.10 on Friday. The stock has a market capitalization of $83.63 billion, a PE ratio of 28.04, a P/E/G ratio of 2.11 and a beta of 1.08. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50-day simple moving average is $165.55 and its 200-day simple moving average is $173.50.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

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.