Avanza Fonder AB Invests $6.39 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Avanza Fonder AB acquired a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,884 shares of the financial services provider’s stock, valued at approximately $6,390,000.

Several other large investors have also bought and sold shares of the stock. State Street Corp raised its position in shares of Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after acquiring an additional 281,503 shares during the last quarter. Geode Capital Management LLC increased its position in Intercontinental Exchange by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after purchasing an additional 169,922 shares during the period. FMR LLC raised its holdings in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after purchasing an additional 299,037 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after purchasing an additional 390,332 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. TD Cowen began coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price on the stock. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research note on Monday, October 14th. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.20.

Intercontinental Exchange Stock Up 0.3 %

ICE opened at $150.61 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $167.99. The company has a market cap of $86.48 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $153.47 and a 200 day moving average of $155.48.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 EPS. On average, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.06 EPS for the current year.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is currently owned by insiders.

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.