Danske Bank A S Invests $51.55 Million in Intercontinental Exchange Inc. $ICE

Danske Bank A S bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 305,988 shares of the financial services provider’s stock, valued at approximately $51,553,000. Danske Bank A S owned approximately 0.05% of Intercontinental Exchange at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. ICONIQ Capital LLC lifted its position in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the last quarter. Cascade Investment Advisors Inc. grew its holdings in shares of Intercontinental Exchange by 0.5% during the third quarter. Cascade Investment Advisors Inc. now owns 13,766 shares of the financial services provider’s stock worth $2,319,000 after purchasing an additional 65 shares during the last quarter. Private Wealth Management Group LLC increased its position in shares of 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 purchasing an additional 66 shares in the last quarter. Ipswich Investment Management Co. Inc. increased its position in shares of Intercontinental Exchange by 3.2% during the third quarter. Ipswich Investment Management Co. Inc. now owns 2,248 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 70 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in shares of Intercontinental Exchange by 3.9% in the 3rd quarter. Boston Trust Walden Corp now owns 1,873 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 71 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 2.3%

Shares of ICE stock opened at $157.05 on Thursday. The business’s fifty day moving average price is $164.23 and its 200 day moving average price is $161.85. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The firm has a market capitalization of $89.19 billion, a PE ratio of 27.22, a P/E/G ratio of 1.74 and a beta of 1.03. 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 (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 earnings per share. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange’s payout ratio is currently 36.05%.

Analyst Ratings Changes

A number of brokerages have recently commented on ICE. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $194.73.

Insider Buying and Selling

In other news, insider Lynn C. Martin sold 13,456 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the transaction, the insider owned 54,319 shares in the company, valued at $8,357,521.34. This trade represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the transaction, the general counsel directly owned 48,181 shares of the company’s stock, valued at $7,805,322. This trade represents a 8.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 348,418 shares of company stock valued at $54,196,631 in the last three months. 1.00% of the stock is owned by 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.