Handelsbanken Fonder AB Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Handelsbanken Fonder AB lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 3.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 248,641 shares of the financial services provider's stock after selling 8,607 shares during the period. Handelsbanken Fonder AB's holdings in Intercontinental Exchange were worth $42,891,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $1,196,258,000. Royal Bank of Canada increased its position 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 purchasing an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC boosted its position in shares of Intercontinental Exchange by 423.8% during the 4th 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. Raymond James Financial Inc. bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at $406,728,000. Finally, GAMMA Investing LLC grew its position in 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 valued at $3,906,700,000 after acquiring an additional 2,255,507 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Barclays raised their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Bank of America lowered their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average price target of $188.46.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 397 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 612 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer now directly owns 13,220 shares in the company, valued at $2,379,600. This trade represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,354 shares of company stock valued at $40,512,695 over the last ninety days. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded up $1.54 during trading on Wednesday, hitting $177.07. 362,413 shares of the company's stock traded hands, compared to its average volume of 3,011,274. The business has a 50-day simple moving average of $168.87 and a 200-day simple moving average of $163.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $101.57 billion, a P/E ratio of 37.02, a PEG ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a 1 year low of $132.93 and a 1 year high of $180.89.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released 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 return on equity of 12.95% and a net margin of 23.42%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. Intercontinental Exchange's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.08%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

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.