KLP Kapitalforvaltning AS Has $33.72 Million Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

KLP Kapitalforvaltning AS grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 195,485 shares of the financial services provider's stock after buying an additional 5,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Intercontinental Exchange were worth $33,721,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. REAP Financial Group LLC raised its stake in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares in the last quarter. Tsfg LLC raised its stake in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after buying an additional 103 shares in the last quarter. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $29,000. Rakuten Securities Inc. raised its stake in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after buying an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $0.94 during mid-day trading on Friday, reaching $184.52. 2,588,779 shares of the company were exchanged, compared to its average volume of 1,851,322. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $185.30. The company has a fifty day moving average of $179.80 and a 200 day moving average of $170.01. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The stock has a market cap of $105.84 billion, a PE ratio of 38.20, a PEG ratio of 2.02 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The company's revenue was up 8.0% on a year-over-year basis. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.04%. Intercontinental Exchange's payout ratio is presently 39.75%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the transaction, the general counsel directly owned 48,480 shares in the company, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the transaction, the chief executive officer owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 226,119 shares of company stock worth $40,524,217. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Bank of America lowered their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $194.42.

Intercontinental Exchange 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.