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Intercontinental Exchange Inc. $ICE Shares Purchased by Danske Bank A S

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Key Points

  • Intercontinental Exchange posted a strong Q1 beat with adjusted EPS of $2.35 vs. $2.23 expected and revenue of $3.67B (up 20.4% YoY), and the board approved an 8% higher quarterly dividend of $0.52.
  • Institutional investors have been accumulating shares — Danske Bank raised its stake by 11.5% to 341,054 shares (about $55.2M) and the stock is roughly 89.3% owned by institutions and hedge funds.
  • Offsetting the positive setup, insiders have sold heavily (348,418 shares worth ~$54.2M in the last 90 days) and the stock recently dropped below its 50- and 200-day moving averages, indicating near-term selling pressure.
  • Interested in Intercontinental Exchange? Here are five stocks we like better.

Danske Bank A S increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 11.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 341,054 shares of the financial services provider's stock after acquiring an additional 35,066 shares during the period. Danske Bank A S owned approximately 0.06% of Intercontinental Exchange worth $55,237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ICE. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider's stock valued at $1,744,480,000 after acquiring an additional 4,067,922 shares during the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of Intercontinental Exchange by 179.1% in the 3rd quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider's stock valued at $416,544,000 after acquiring an additional 1,586,620 shares during the last quarter. Waverton Investment Management Ltd increased its holdings in shares of Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider's stock valued at $257,163,000 after acquiring an additional 1,521,467 shares during the last quarter. Capital World Investors increased its holdings in shares of Intercontinental Exchange by 15.2% in the 3rd 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. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Intercontinental Exchange by 29.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,439,436 shares of the financial services provider's stock valued at $410,978,000 after acquiring an additional 553,486 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the transaction, the insider owned 14,266 shares of the company's stock, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 12,861 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total value of $2,122,065.00. Following the completion of the transaction, the president directly owned 165,692 shares of the company's stock, valued at approximately $27,339,180. The trade was a 7.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 348,418 shares of company stock valued at $54,196,631. Company insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ICE. Weiss Ratings downgraded Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, April 24th. TD Cowen reiterated a "buy" rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Wall Street Zen upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. UBS Group restated a "buy" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective for the company in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $194.10.

Get Our Latest Stock Report on Intercontinental Exchange

Intercontinental Exchange News Summary

Here are the key news stories impacting Intercontinental Exchange this week:

Intercontinental Exchange Price Performance

Shares of ICE opened at $155.04 on Friday. The company has a market cap of $87.82 billion, a P/E ratio of 26.87, a PEG ratio of 1.64 and a beta of 0.96. The stock has a fifty day moving average price of $160.21 and a 200 day moving average price of $159.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.02. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate 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 was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.72 EPS. On average, research analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Intercontinental Exchange's dividend payout ratio is presently 36.05%.

Intercontinental Exchange Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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