Swedbank AB Boosts Stock Holdings in Intercontinental Exchange Inc. $ICE

Swedbank AB raised its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 7.6% during the first quarter, Holdings Channel reports. The firm owned 3,795,369 shares of the financial services provider’s stock after purchasing an additional 268,254 shares during the period. Swedbank AB’s holdings in Intercontinental Exchange were worth $596,936,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth about $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Steph & Co. grew its holdings in shares of 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 purchasing an additional 89 shares during the period. Swiss RE Ltd. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $28,000. Finally, Brooklands Fund Management Ltd acquired a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction 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 sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 13,425 shares of company stock valued at $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group cut their price target on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.08.

Intercontinental Exchange Stock Up 1.6%

Intercontinental Exchange stock traded up $2.17 during midday trading on Tuesday, hitting $137.08. 1,368,490 shares of the company were exchanged, compared to its average volume of 3,988,527. The company has a market cap of $77.52 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $189.35. The company’s fifty day moving average price is $144.62 and its 200-day moving average price is $156.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

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

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.