Skandinaviska Enskilda Banken AB publ Sells 264,812 Shares of Intercontinental Exchange Inc. $ICE

Skandinaviska Enskilda Banken AB publ lowered its position in Intercontinental Exchange Inc. (NYSE:ICE) by 70.7% in the 3rd quarter, HoldingsChannel.com reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Optivise Advisory Services LLC grew its stake in shares of Intercontinental Exchange by 3.1% during the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 54 shares during the period. ICONIQ Capital LLC boosted its holdings in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after buying an additional 56 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Intercontinental Exchange by 5.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after buying an additional 58 shares during the period. Ledyard National Bank grew its position in Intercontinental Exchange by 4.3% during the second quarter. Ledyard National Bank now owns 1,512 shares of the financial services provider’s stock valued at $277,000 after buying an additional 62 shares during the period. Finally, Elyxium Wealth LLC increased its holdings in Intercontinental Exchange by 1.2% during the second quarter. Elyxium Wealth LLC now owns 5,087 shares of the financial services provider’s stock valued at $933,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 4,722 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $169.19, for a total transaction of $798,915.18. Following the completion of the transaction, the director owned 9,747 shares in the company, valued at $1,649,094.93. This trade represents a 32.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $163.20, for a total value of $261,120.00. Following the completion of the sale, the senior vice president directly owned 24,196 shares in the company, valued at approximately $3,948,787.20. The trade was a 6.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,800 shares of company stock valued at $4,845,491. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ICE. Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, February 6th. Piper Sandler reissued an “overweight” rating and set a $195.00 price target (down previously from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Finally, UBS Group restated a “buy” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and an average target price of $195.40.

Intercontinental Exchange Trading Up 0.7%

ICE stock opened at $153.30 on Wednesday. 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 Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The business has a 50 day simple moving average of $165.05 and a two-hundred day simple moving average of $164.92. The company has a market capitalization of $87.06 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.59 and a beta of 1.02.

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

Intercontinental Exchange Announces Dividend

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