DNB Asset Management AS Sells 22,826 Shares of Intercontinental Exchange Inc. $ICE

DNB Asset Management AS reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 also recently modified their holdings of the company. Brighton Jones LLC raised its holdings 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 during the period. Empowered Funds LLC grew its position in shares of Intercontinental Exchange by 9.0% in the first 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 stake in shares of Intercontinental Exchange by 16.2% during the second 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 during the period. Ashton Thomas Private Wealth LLC lifted its holdings in Intercontinental Exchange by 35.9% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 5,788 shares of the financial services provider’s stock worth $1,062,000 after purchasing an additional 1,528 shares during the last quarter. Finally, Howard Capital Management Inc. lifted its holdings in Intercontinental Exchange by 11.8% during the 2nd quarter. Howard Capital Management Inc. now owns 3,401 shares of the financial services provider’s stock worth $624,000 after purchasing an additional 359 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of several recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Morgan Stanley set a $183.00 price objective on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Piper Sandler restated an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. 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 research 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. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $195.40.

Insider Activity

In related news, CTO Mayur Kapani sold 15,213 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at $10,055,992.38. The trade was a 19.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $154.00, for a total value of $383,460.00. Following the completion of the transaction, the chief financial officer owned 27,679 shares of the company’s stock, valued at $4,262,566. This represents a 8.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 354,492 shares of company stock valued at $55,139,102. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Up 1.5%

Shares of ICE opened at $162.75 on Friday. The firm has a 50 day simple moving average of $164.39 and a two-hundred day simple moving average of $163.72. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a market cap of $92.43 billion, a P/E ratio of 28.21, a P/E/G ratio of 1.67 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.Intercontinental Exchange’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 EPS. Research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

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.