Lansforsakringar Fondforvaltning AB publ Acquires 46,617 Shares of Intercontinental Exchange Inc. $ICE

Lansforsakringar Fondforvaltning AB publ boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 25.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 229,038 shares of the financial services provider’s stock after purchasing an additional 46,617 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Intercontinental Exchange were worth $36,023,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $25,000. Holos Integrated Wealth LLC bought a new position in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Steph & Co. grew its position in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Finally, Swiss RE Ltd. purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ICE. Barclays reissued an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday, June 11th. UBS Group reissued a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $189.36.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $122.76 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average price is $147.11 and its 200-day moving average price is $157.36. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35. The stock has a market cap of $69.42 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.16 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the company earned $1.72 earnings per share. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is owned by company insiders.

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.