Lansforsakringar Fondforvaltning AB publ Has $31.60 Million Stock Position in Intercontinental Exchange Inc. $ICE

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its holdings in Intercontinental Exchange Inc. by 5.7%, now owning 183,201 shares valued at approximately $31.6 million.
• Several analysts have raised their price targets for ICE shares, with UBS Group and Barclays setting targets of $210.00 and $212.00 respectively, indicating strong market confidence.
• Intercontinental Exchange announced a quarterly dividend of $0.48, due for payment on September 30th, representing an annual yield of 1.1%.

Lansforsakringar Fondforvaltning AB publ lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,201 shares of the financial services provider's stock after selling 11,075 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Intercontinental Exchange were worth $31,602,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fielder Capital Group LLC raised its position in Intercontinental Exchange by 2.2% in the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after purchasing an additional 61 shares in the last quarter. E Fund Management Co. Ltd. raised its position in Intercontinental Exchange by 4.2% in the first quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock worth $259,000 after purchasing an additional 61 shares in the last quarter. Berkeley Capital Partners LLC raised its position in Intercontinental Exchange by 1.1% in the first quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after purchasing an additional 62 shares in the last quarter. GPS Wealth Strategies Group LLC raised its position in Intercontinental Exchange by 17.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock worth $74,000 after purchasing an additional 63 shares in the last quarter. Finally, Values Added Financial LLC raised its position in Intercontinental Exchange by 4.4% in the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock worth $264,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Buying and Selling

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares of the company's stock, valued at $357,337,668.45. The trade was a 7.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 1,570 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total transaction of $280,166.50. Following the completion of the transaction, the chief financial officer directly owned 22,106 shares of the company's stock, valued at $3,944,815.70. This trade represents a 6.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 449,993 shares of company stock worth $81,486,507 over the last ninety days. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ICE shares. Barclays raised their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. UBS Group lifted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and an average price target of $194.92.

Intercontinental Exchange Trading Down 0.3%

ICE stock traded down $0.54 during trading on Monday, hitting $176.60. The company had a trading volume of 1,775,543 shares, compared to its average volume of 2,915,306. The firm has a 50-day moving average price of $182.07 and a 200-day moving average price of $174.59. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The stock has a market cap of $101.09 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.11 and a beta of 1.10.

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

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.