Andra AP fonden Makes New Investment in Intercontinental Exchange Inc. $ICE

Andra AP fonden bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 67,100 shares of the financial services provider’s stock, valued at approximately $11,305,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Westside Investment Management Inc. acquired a new stake in Intercontinental Exchange during the 2nd quarter valued at $29,000. Private Wealth Management Group LLC increased its position in Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after buying an additional 66 shares during the last quarter. Knuff & Co LLC lifted 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 worth $32,000 after buying an additional 74 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in Intercontinental Exchange by 128.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 153 shares during the last quarter. Finally, Capital A Wealth Management LLC boosted its holdings in Intercontinental Exchange by 26,000.0% during the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $164.05 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The stock’s 50-day moving average price is $164.47 and its two-hundred day moving average price is $163.57. The stock has a market cap of $93.17 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 1.70 and a beta of 1.02.

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

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 33.28%.

Wall Street Analyst Weigh In

ICE has been the subject of several research reports. UBS Group reissued a “buy” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $195.40.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the transaction, the insider owned 14,266 shares in the company, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 15,213 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total value of $2,358,319.26. Following the completion of the sale, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,055,992.38. This trade represents a 19.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 354,492 shares of company stock worth $55,139,102. Company insiders own 1.00% of the company’s stock.

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.