BI Asset Management Fondsmaeglerselskab A S Sells 105,802 Shares of Intercontinental Exchange Inc. $ICE

BI Asset Management Fondsmaeglerselskab A S lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 77.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,177 shares of the financial services provider's stock after selling 105,802 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Intercontinental Exchange were worth $5,049,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider's stock valued at $8,770,647,000 after purchasing an additional 413,639 shares in the last quarter. State Street Corp grew its holdings in Intercontinental Exchange by 0.8% during the 3rd quarter. State Street Corp now owns 24,816,744 shares of the financial services provider's stock worth $4,181,125,000 after acquiring an additional 194,325 shares during the last quarter. Wellington Management Group LLP grew its holdings in Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider's stock worth $1,744,480,000 after acquiring an additional 4,067,922 shares during the last quarter. Norges Bank acquired a new position in Intercontinental Exchange in the 4th quarter valued at approximately $1,418,228,000. Finally, Capital World Investors raised its stake in shares of Intercontinental Exchange by 15.2% during the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider's stock valued at $1,184,238,000 after acquiring an additional 928,047 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $141.36 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm's fifty day simple moving average is $155.83 and its two-hundred day simple moving average is $159.78. Intercontinental Exchange Inc. has a 12 month low of $136.67 and a 12 month high of $189.35. The stock has a market capitalization of $79.94 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 EPS. As a group, analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the firm's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares of the company's stock, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 12,001 shares of company stock worth $1,847,820. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Piper Sandler reaffirmed an "overweight" rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price target for the company. Finally, Barclays restated an "overweight" rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average price target of $194.60.

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.

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.