Handelsinvest Investeringsforvaltning Sells 2,028 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Handelsinvest Investeringsforvaltning lessened its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 15.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,229 shares of the financial services provider’s stock after selling 2,028 shares during the quarter. Intercontinental Exchange makes up about 0.7% of Handelsinvest Investeringsforvaltning’s investment portfolio, making the stock its 28th largest holding. Handelsinvest Investeringsforvaltning’s holdings in Intercontinental Exchange were worth $1,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Nordea Investment Management AB increased its stake in shares of Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after purchasing an additional 12,208 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Intercontinental Exchange by 8.5% during the 4th quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock valued at $3,253,000 after purchasing an additional 1,991 shares during the last quarter. Point72 Europe London LLP boosted its holdings in shares of Intercontinental Exchange by 10.9% during the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Perpetual Ltd lifted its holdings in shares of Intercontinental Exchange by 0.4% in the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after acquiring an additional 6,272 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.2 %

Shares of ICE stock opened at $140.50 on Wednesday. The stock’s 50-day simple moving average is $134.62 and its 200-day simple moving average is $133.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $80.59 billion, a PE ratio of 32.30, a P/E/G ratio of 2.55 and a beta of 1.06. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $141.58.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company’s revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 earnings per share. Equities analysts expect that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on ICE shares. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $143.00 to $167.00 in a research report on Monday. Rosenblatt Securities reissued a “buy” rating and issued a $164.00 price objective on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Keefe, Bruyette & Woods reduced their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Argus reiterated a “buy” rating and issued a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.29.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the acquisition, the insider now owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The disclosure for this purchase can be found here. Insiders have sold a total of 4,506 shares of company stock valued at $609,374 over the last ninety days. Company insiders own 1.10% of the company’s stock.

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.