Intercontinental Exchange Inc. $ICE Stock Holdings Lessened by DNB Asset Management AS

DNB Asset Management AS lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 10.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 280,196 shares of the financial services provider’s stock after selling 33,533 shares during the period. DNB Asset Management AS’s holdings in Intercontinental Exchange were worth $51,408,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares during the last quarter. Nuveen LLC acquired a new position in Intercontinental Exchange during the 1st quarter valued at approximately $575,383,000. Wellington Management Group LLP grew its stake in Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares during the last quarter. C WorldWide Group Holding A S increased its position in Intercontinental Exchange by 29,199.5% in the second quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock worth $303,129,000 after buying an additional 1,646,562 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Intercontinental Exchange by 31.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock valued at $616,836,000 after buying an additional 861,679 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This represents a 13.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 23,488 shares of company stock valued at $3,914,346. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ICE. UBS Group lowered their price target on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Morgan Stanley decreased their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. TD Cowen cut their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research report on Monday, October 13th. Finally, Barclays set a $183.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Price Performance

NYSE ICE opened at $151.84 on Friday. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $86.58 billion, a PE ratio of 29.14, a P/E/G ratio of 2.11 and a beta of 1.06. The company’s 50 day simple moving average is $158.43 and its 200 day simple moving average is $172.18.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.