DnB Asset Management AS Raises Position in Intercontinental Exchange Inc (ICE)

DnB Asset Management AS increased its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,330 shares of the financial services provider’s stock after buying an additional 900 shares during the period. DnB Asset Management AS’s holdings in Intercontinental Exchange were worth $13,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. lifted its position in Intercontinental Exchange by 0.9% during the 3rd quarter. Macquarie Group Ltd. now owns 2,915,546 shares of the financial services provider’s stock worth $200,298,000 after buying an additional 24,797 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in Intercontinental Exchange during the 3rd quarter worth about $380,000. QS Investors LLC lifted its position in Intercontinental Exchange by 10.0% during the 2nd quarter. QS Investors LLC now owns 10,381 shares of the financial services provider’s stock worth $684,000 after buying an additional 946 shares in the last quarter. Stephens Inc. AR raised its holdings in Intercontinental Exchange by 198.1% during the 2nd quarter. Stephens Inc. AR now owns 32,957 shares of the financial services provider’s stock worth $2,173,000 after purchasing an additional 21,903 shares during the last quarter. Finally, New Mountain Vantage Advisers L.L.C. raised its holdings in Intercontinental Exchange by 0.4% during the 2nd quarter. New Mountain Vantage Advisers L.L.C. now owns 769,390 shares of the financial services provider’s stock worth $50,718,000 after purchasing an additional 3,424 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Shares of Intercontinental Exchange Inc (ICE) opened at $74.46 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $43,560.00, a PE ratio of 27.08, a price-to-earnings-growth ratio of 2.29 and a beta of 0.70. Intercontinental Exchange Inc has a twelve month low of $55.80 and a twelve month high of $74.55.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. Intercontinental Exchange’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. equities analysts anticipate that Intercontinental Exchange Inc will post 2.95 earnings per share for the current fiscal year.

Intercontinental Exchange announced that its Board of Directors has approved a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Several analysts have weighed in on the company. UBS Group boosted their price objective on Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Citigroup boosted their price objective on Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Barclays boosted their price objective on Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Wells Fargo & Co boosted their price objective on Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 5th. Finally, Royal Bank of Canada boosted their price objective on Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $75.40.

In other news, insider Dean S. Mathison sold 2,570 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $69.77, for a total value of $179,308.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Charles A. Vice sold 7,500 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $71.93, for a total value of $539,475.00. Following the completion of the sale, the insider now directly owns 377,471 shares of the company’s stock, valued at $27,151,489.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,070 shares of company stock valued at $2,684,849. 1.50% of the stock is currently owned by company insiders.

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Intercontinental Exchange Profile

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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