DnB Asset Management AS Purchases 6,667 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

DnB Asset Management AS increased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 303,672 shares of the financial services provider’s stock after purchasing an additional 6,667 shares during the period. DnB Asset Management AS’s holdings in Intercontinental Exchange were worth $45,250,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $25,000. FSA Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $31,000. Lee Danner & Bass Inc. acquired a new stake in Intercontinental Exchange during the fourth quarter worth approximately $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange during the 4th quarter worth $40,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Intercontinental Exchange in the 4th quarter valued at $45,000. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ICE. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Barclays lifted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. UBS Group upped their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Price Performance

ICE stock opened at $176.56 on Friday. The company has a market capitalization of $101.44 billion, a P/E ratio of 36.94, a PEG ratio of 2.10 and a beta of 1.08. The company has a fifty day moving average price of $166.61 and a 200-day moving average price of $160.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $177.45.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, equities analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the completion of the transaction, the senior vice president now owns 21,992 shares in the company, valued at approximately $3,661,008.24. This trade represents a 32.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares in the company, valued at approximately $25,247,181.82. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock valued at $10,998,990 over the last ninety days. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange 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.