Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Stock Holdings in Intercontinental Exchange Inc. $ICE

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,706 shares of the financial services provider’s stock after selling 3,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Intercontinental Exchange were worth $16,472,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $25,000. Dorato Capital Management purchased a new position in Intercontinental Exchange during the fourth quarter valued at $29,000. Steph & Co. lifted its position in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after buying an additional 89 shares during the period. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $28,000. Finally, Lloyd Advisory Services LLC. purchased a new position in Intercontinental Exchange during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,001 shares of company stock valued at $1,847,820 over the last quarter. Corporate insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group reaffirmed a “buy” rating and issued a $205.00 price target on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $194.60.

Intercontinental Exchange Price Performance

ICE opened at $141.36 on Friday. The stock has a 50-day moving average price of $155.83 and a 200-day moving average price of $159.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $79.94 billion, a PE ratio of 20.58, a P/E/G ratio of 1.36 and a beta of 0.92. Intercontinental Exchange Inc. has a 1 year low of $136.67 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. Intercontinental Exchange’s quarterly revenue was up 20.4% compared to the same quarter last year. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share 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.