DNB Asset Management AS Has $43.36 Million Stock Position in Intercontinental Exchange Inc. $ICE

DNB Asset Management AS reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 257,370 shares of the financial services provider’s stock after selling 22,826 shares during the period. DNB Asset Management AS’s holdings in Intercontinental Exchange were worth $43,362,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Intercontinental Exchange in the second quarter valued at $1,542,780,000. Sands Capital Management LLC grew its stake in shares of Intercontinental Exchange by 97.3% in the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. C WorldWide Group Holding A S grew its stake in shares of Intercontinental Exchange by 29,199.5% in the 2nd quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock worth $303,129,000 after acquiring an additional 1,646,562 shares in the last quarter. Mawer Investment Management Ltd. raised its holdings in shares of Intercontinental Exchange by 179.1% in the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock valued at $416,544,000 after purchasing an additional 1,586,620 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Intercontinental Exchange by 55.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,781,542 shares of the financial services provider’s stock valued at $510,330,000 after purchasing an additional 994,316 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total value of $23,250,000.00. Following the transaction, the chief executive officer directly owned 1,651,705 shares in the company, valued at $256,014,275. This represents a 8.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 11,303 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider directly owned 14,266 shares in the company, valued at approximately $2,194,396.12. The trade was a 44.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 354,492 shares of company stock valued at $55,139,102. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Morgan Stanley set a $183.00 target price on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Tuesday, February 10th. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Raymond James Financial reiterated a “strong-buy” rating and issued a $211.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $195.40.

Intercontinental Exchange Trading Up 1.5%

Shares of ICE opened at $162.75 on Friday. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The stock has a market cap of $92.43 billion, a PE ratio of 28.21, a P/E/G ratio of 1.67 and a beta of 1.02. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $164.39 and its 200-day moving average price is $163.72.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. Intercontinental Exchange’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.52 earnings per share. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is 33.28%.

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.