KLP Kapitalforvaltning AS Makes New $28.38 Million Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

KLP Kapitalforvaltning AS acquired a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 190,485 shares of the financial services provider’s stock, valued at approximately $28,384,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strategic Advisors LLC raised its stake in Intercontinental Exchange by 5.1% in the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock valued at $201,000 after buying an additional 66 shares during the last quarter. Commons Capital LLC raised its stake in Intercontinental Exchange by 1.2% in the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after buying an additional 69 shares during the last quarter. Brooklyn Investment Group raised its stake in Intercontinental Exchange by 2.2% in the fourth quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock valued at $475,000 after buying an additional 70 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in Intercontinental Exchange by 3.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $294,000 after buying an additional 70 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in Intercontinental Exchange by 2.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after buying an additional 71 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 17,104 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the transaction, the president now owns 155,174 shares of the company’s stock, valued at approximately $25,855,091.88. The trade was a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Scott Edmonds sold 6,834 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the sale, the insider now owns 17,972 shares in the company, valued at $3,001,144.28. This represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock worth $10,998,990 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Down 0.7 %

Intercontinental Exchange stock opened at $174.42 on Friday. The stock has a market capitalization of $100.22 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $175.99. The business has a 50 day simple moving average of $164.29 and a 200-day simple moving average of $160.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ICE shares. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Barclays increased their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $178.80.

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.