Handelsbanken Fonder AB Raises Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Handelsbanken Fonder AB increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,714 shares of the financial services provider’s stock after buying an additional 15,968 shares during the quarter. Handelsbanken Fonder AB’s holdings in Intercontinental Exchange were worth $38,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ICE. American National Bank increased its holdings in shares of Intercontinental Exchange by 13.8% during the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 69 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in shares of Intercontinental Exchange by 3.4% in the second quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock worth $304,000 after buying an additional 73 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Intercontinental Exchange by 1.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock worth $559,000 after buying an additional 74 shares during the period. Founders Financial Securities LLC grew its holdings in shares of Intercontinental Exchange by 4.8% during the second quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock valued at $219,000 after buying an additional 74 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. increased its position in shares of Intercontinental Exchange by 0.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after acquiring an additional 75 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ICE. Citigroup lifted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Barclays lifted their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.80.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $0.50 on Friday, hitting $162.76. The company’s stock had a trading volume of 2,233,038 shares, compared to its average volume of 2,495,323. The company has a market capitalization of $93.36 billion, a price-to-earnings ratio of 37.33, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. The firm has a fifty day moving average price of $158.16 and a 200-day moving average price of $144.42. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $164.18.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $1.43 EPS. The business’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the completion of the sale, the insider now owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction of $148,600.00. Following the completion of the transaction, the insider now directly owns 14,636 shares in the company, valued at approximately $2,174,909.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,316 shares of company stock valued at $9,835,609 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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.