Tredje AP fonden Has $11.75 Million Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Tredje AP fonden cut its Intercontinental Exchange stake by 67.5% in the fourth quarter, selling 150,872 shares and leaving it with 72,518 shares valued at about $11.75 million.
• Wall Street sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average target price of $194.10. Several firms recently reiterated or raised bullish targets, though Weiss Ratings trimmed its rating slightly.
• Intercontinental Exchange posted strong quarterly results, beating EPS expectations with $2.35 per share and delivering $3.67 billion in revenue, up 20.4% year over year. Despite the beat, shares were trading down 1.2% at $154.18.

Tredje AP fonden lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 67.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,518 shares of the financial services provider's stock after selling 150,872 shares during the quarter. Tredje AP fonden's holdings in Intercontinental Exchange were worth $11,745,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange in the 4th quarter valued at about $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Steph & Co. grew its position in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Dorato Capital Management acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Finally, Caitlin John LLC acquired a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ICE shares. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 target price on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Morgan Stanley upped their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research report on Friday, April 10th. TD Cowen reaffirmed a "buy" rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Finally, Weiss Ratings downgraded Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $194.10.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares in the company, valued at approximately $7,805,322. The trade was a 8.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Benjamin Jackson sold 3,865 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the sale, the president owned 165,304 shares of the company's stock, valued at approximately $25,412,183.92. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,956 shares of company stock valued at $6,190,895 in the last quarter. Company insiders own 0.84% of the company's stock.

Intercontinental Exchange Trading Down 1.2%

Shares of ICE stock opened at $154.18 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $87.19 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96. The stock has a 50 day simple moving average of $158.87 and a 200 day simple moving average of $159.96. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 earnings per share. On average, research analysts predict that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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