BI Asset Management Fondsmaeglerselskab A S Sells 105,802 Shares of Intercontinental Exchange Inc. $ICE

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 77.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,177 shares of the financial services provider’s stock after selling 105,802 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Intercontinental Exchange were worth $5,049,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 1,169 shares in the last quarter. Empowered Funds LLC boosted its stake in Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after purchasing an additional 6,373 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

ICE stock opened at $141.36 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. 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. The business has a 50 day moving average of $155.83 and a 200-day moving average of $159.78. Intercontinental Exchange Inc. has a 12-month low of $136.67 and a 12-month high of $189.35.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ICE. UBS Group reaffirmed a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Barclays reissued an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research note on Friday, March 6th. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Finally, Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $194.60.

Insiders Place Their Bets

In related news, Director Sharon Bowen sold 667 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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 represents a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 12,001 shares of company stock valued at $1,847,820. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Company 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.