Handelsbanken Fonder AB Sells 19,932 Shares of Intercontinental Exchange Inc. $ICE

Handelsbanken Fonder AB trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 8.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,279 shares of the financial services provider’s stock after selling 19,932 shares during the period. Handelsbanken Fonder AB’s holdings in Intercontinental Exchange were worth $36,439,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 1,169 shares during the period. Empowered Funds LLC boosted its stake in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in Intercontinental Exchange by 6.2% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 5,634 shares of the financial services provider’s stock worth $1,034,000 after buying an additional 327 shares during the period. Finally, World Investment Advisors lifted its holdings in Intercontinental Exchange by 23.8% during the 2nd quarter. World Investment Advisors now owns 13,449 shares of the financial services provider’s stock valued at $2,467,000 after buying an additional 2,588 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ICE shares. Morgan Stanley set a $183.00 target price on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Piper Sandler reissued an “overweight” rating and set a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $195.40.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 15,213 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,055,992.38. This represents a 19.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 3,865 shares of the company’s stock in a transaction 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 transaction, the president directly owned 165,304 shares in the company, valued at approximately $25,412,183.92. The trade was a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 354,492 shares of company stock valued at $55,139,102. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $164.05 on Friday. The company has a market capitalization of $93.17 billion, a PE ratio of 28.43, a P/E/G ratio of 1.70 and a beta of 1.02. The company has a 50-day simple moving average of $164.47 and a two-hundred day simple moving average of $163.57. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 EPS. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 33.28%.

Intercontinental Exchange Company Profile

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.