Lansforsakringar Fondforvaltning AB publ Makes New $28.95 Million Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 194,276 shares of the financial services provider's stock, valued at approximately $28,949,000.

A number of other hedge funds also recently made changes to their positions in ICE. Strategic Advisors LLC increased its stake in shares of Intercontinental Exchange by 5.1% in the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider's stock worth $201,000 after buying an additional 66 shares during the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Intercontinental Exchange by 2.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider's stock worth $465,000 after buying an additional 71 shares during the last quarter. Quadcap Wealth Management LLC increased its stake in shares of Intercontinental Exchange by 1.2% in the fourth quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider's stock worth $918,000 after buying an additional 71 shares during the last quarter. Colonial Trust Co SC increased its stake in shares of Intercontinental Exchange by 11.7% in the fourth quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider's stock worth $102,000 after buying an additional 72 shares during the last quarter. Finally, Sprott Inc. increased its stake in shares of Intercontinental Exchange by 2.4% in the fourth quarter. Sprott Inc. now owns 3,085 shares of the financial services provider's stock worth $460,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of ICE traded up $1.42 during midday trading on Friday, hitting $179.95. 5,439,058 shares of the stock traded hands, compared to its average volume of 3,019,494. Intercontinental Exchange, Inc. has a 1-year low of $132.57 and a 1-year high of $180.64. The firm has a market capitalization of $103.22 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The business's 50 day moving average price is $168.09 and its two-hundred day moving average price is $162.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.07%. Intercontinental Exchange's payout ratio is currently 39.75%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ICE. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. UBS Group lifted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Barclays lifted their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Bank of America decreased their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $188.46.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,630 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares of the company's stock, valued at approximately $3,396,876. This represents a 10.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martha A. Tirinnanzi sold 397 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the sale, the director now directly owns 4,526 shares of the company's stock, valued at $801,599.86. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,579 shares of company stock valued at $584,818 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Company Profile

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.