Intercontinental Exchange Inc. $ICE Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Intercontinental Exchange Inc. by 17.3%, selling 18,200 shares to own 87,106 shares valued at approximately $15 million.
• Intercontinental Exchange reported $1.81 earnings per share, exceeding analysts' estimates, with quarterly revenue of $3.26 billion, up 9.8% from the previous year.
• The company announced a quarterly dividend of $0.48 per share, indicating a 1.1% yield and a dividend payout ratio of 36.85%.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 17.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,106 shares of the financial services provider's stock after selling 18,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Intercontinental Exchange were worth $15,026,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. REAP Financial Group LLC boosted its holdings in Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares during the period. Tsfg LLC boosted its holdings in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares during the period. Menard Financial Group LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. raised its position 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 worth $29,000 after acquiring an additional 143 shares in the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange in the 1st quarter worth approximately $30,000. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on ICE. UBS Group raised their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays raised their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley raised their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $194.92.

Intercontinental Exchange Stock Performance

ICE traded down $1.56 during midday trading on Friday, hitting $181.12. 2,840,944 shares of the company were exchanged, compared to its average volume of 3,090,302. The company's 50 day simple moving average is $182.02 and its 200 day simple moving average is $173.60. The firm has a market capitalization of $103.68 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for 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 firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.52 EPS. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

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

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction dated 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 owned 48,480 shares in the company, valued at $8,683,737.60. The trade was a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total value of $145,723.50. Following the completion of the sale, the director owned 15,000 shares in the company, valued at approximately $2,749,500. The trade was a 5.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 443,488 shares of company stock worth $80,323,823 over the last quarter. Company insiders own 1.00% of the company's stock.

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.