BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in Intercontinental Exchange Inc. $ICE

BI Asset Management Fondsmaeglerselskab A S raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 8.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 136,979 shares of the financial services provider’s stock after purchasing an additional 10,595 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Intercontinental Exchange were worth $23,078,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Princeton Global Asset Management LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at about $28,000. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange during the second quarter worth about $29,000. Knuff & Co LLC raised its position in shares of Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Private Wealth Management Group LLC raised its holdings in Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. Finally, Gables Capital Management Inc. grew its position in shares of Intercontinental Exchange by 100.0% in the second quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 125 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was 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 $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 quarter, insiders have sold 166,068 shares of company stock worth $25,470,702. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Up 0.9%

ICE stock opened at $164.60 on Thursday. The company has a market capitalization of $93.85 billion, a P/E ratio of 29.98, a PEG ratio of 1.97 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The firm has a 50 day simple moving average of $164.73 and a 200-day simple moving average of $166.58.

Wall Street Analysts Forecast Growth

Several research firms have commented on ICE. JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Morgan Stanley set a $180.00 price objective on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $193.50.

About Intercontinental Exchange

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.