BI Asset Management Fondsmaeglerselskab A S Has $23.92 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

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BI Asset Management Fondsmaeglerselskab A S raised its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 20.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,660 shares of the financial services provider's stock after buying an additional 23,162 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Intercontinental Exchange were worth $23,919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Intercontinental Exchange by 423.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after acquiring an additional 3,678,384 shares in the last quarter. Nuveen LLC bought a new stake in shares of Intercontinental Exchange in the first quarter worth about $575,383,000. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after acquiring an additional 3,165,381 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Intercontinental Exchange by 24,394.4% in the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after acquiring an additional 2,255,507 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the transaction, the senior vice president owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 444,506 shares of company stock valued at $80,507,655. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Barclays increased their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Stock Up 0.8%

ICE stock traded up $1.3760 during mid-day trading on Friday, reaching $180.6060. The company had a trading volume of 2,247,807 shares, compared to its average volume of 3,210,406. 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 stock has a 50 day simple moving average of $182.25 and a two-hundred day simple moving average of $174.08. The company has a market capitalization of $103.38 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 2.14 and a beta of 1.11. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business's revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.1%. Intercontinental Exchange's dividend payout ratio is 36.85%.

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.