Skandinaviska Enskilda Banken AB publ Reduces Stock Position in Intercontinental Exchange Inc. $ICE

Skandinaviska Enskilda Banken AB publ decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 70.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,786 shares of the financial services provider’s stock after selling 264,812 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Intercontinental Exchange were worth $18,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its position 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 purchasing an additional 1,169 shares during the last quarter. Empowered Funds LLC raised its holdings 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 acquiring an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in 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 acquiring an additional 289 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in Intercontinental Exchange by 11.3% in the second quarter. Chicago Partners Investment Group LLC now owns 2,951 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 300 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in Intercontinental Exchange during the 2nd quarter valued at $28,000. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $156.67, for a total transaction of $837,401.15. Following the transaction, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,221,150.80. This represents a 7.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 12,861 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the sale, the president directly owned 165,692 shares in the company, valued at approximately $27,339,180. The trade was a 7.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,800 shares of company stock worth $4,845,491 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $153.30 on Wednesday. The firm has a market cap of $87.06 billion, a PE ratio of 26.57, a P/E/G ratio of 1.59 and a beta of 1.02. The stock has a 50-day moving average price of $165.05 and a 200-day moving average price of $164.92. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. The company 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%. Intercontinental Exchange’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 EPS. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.4%. Intercontinental Exchange’s dividend payout ratio is 33.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ICE. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 target price (down previously from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Raymond James Financial restated a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $195.40.

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.