Swedbank AB Sells 36,147 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Swedbank AB reduced its holdings in Intercontinental Exchange Inc. by 1.6%, selling 36,147 shares during the first quarter, while still owning approximately 2.18 million shares valued at around $375 million.
• Several institutions significantly increased their positions in Intercontinental Exchange, with notable growth from Rakuten Securities Inc. by 595.8% and Activest Wealth Management by 4,050% in the first quarter.
• Analysts are optimistic about Intercontinental Exchange, with ten analysts rating the stock as a "Buy" and target price increases from firms like UBS Group and Barclays, reflecting positive momentum for the company.

Swedbank AB reduced its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,179,620 shares of the financial services provider's stock after selling 36,147 shares during the quarter. Swedbank AB owned about 0.38% of Intercontinental Exchange worth $375,984,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ICE. Advisors Capital Management LLC increased its stake in Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider's stock valued at $341,000 after acquiring an additional 396 shares during the last quarter. Tema Etfs LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $1,107,000. Capital Investment Advisory Services LLC bought a new position in shares of Intercontinental Exchange in the 1st quarter valued at $349,000. Sequoia Financial Advisors LLC raised its holdings in shares of Intercontinental Exchange by 18.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after buying an additional 1,879 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth $28,949,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Down 1.1%

ICE traded down $1.95 during midday trading on Monday, hitting $172.02. 2,669,551 shares of the company were exchanged, compared to its average volume of 2,462,453. The firm's 50 day moving average price is $180.62 and its 200-day moving average price is $175.02. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The firm has a market capitalization of $98.47 billion, a P/E ratio of 33.02, a P/E/G ratio of 2.07 and a beta of 1.10. 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 (NYSE:ICE - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. The firm's quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. 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 note on Tuesday, July 8th. Piper Sandler raised their price target 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. Finally, Barclays upped their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.92.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel directly owned 46,293 shares of the company's stock, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the sale, the chief executive officer owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 230,730 shares of company stock worth $42,171,892. 1.00% of the stock is owned by insiders.

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.