Tredje AP fonden Lowers Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Tredje AP fonden decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 35.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,388 shares of the financial services provider's stock after selling 66,134 shares during the period. Tredje AP fonden's holdings in Intercontinental Exchange were worth $21,112,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Governors Lane LP increased its holdings in Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock valued at $18,939,000 after purchasing an additional 59,500 shares during the period. Tema Etfs LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $1,107,000. Ilmarinen Mutual Pension Insurance Co boosted its position in Intercontinental Exchange by 61.0% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 157,800 shares of the financial services provider's stock valued at $23,514,000 after acquiring an additional 59,800 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in Intercontinental Exchange during the 1st quarter valued at approximately $349,000. Finally, Sequoia Financial Advisors LLC boosted its position in 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 valued at $2,099,000 after acquiring an additional 1,879 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler lifted 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. UBS Group boosted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Barclays boosted their price target on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Bank of America dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research 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 company's stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.42.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded up $1.47 during trading on Wednesday, reaching $186.18. The company had a trading volume of 3,506,659 shares, compared to its average volume of 1,871,467. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $187.38. The firm's 50-day simple moving average is $180.10 and its 200 day simple moving average is $170.55. The firm has a market capitalization of $106.80 billion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business posted $1.48 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.03%. Intercontinental Exchange's payout ratio is 39.75%.

Insider Transactions at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president owned 27,313 shares of the company's stock, valued at $4,847,511.24. The trade was a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,913 shares of company stock valued at $40,671,107 in the last ninety days. Corporate 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.