DnB Asset Management AS Has $45.25 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

DnB Asset Management AS increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 owned 0.05% of Intercontinental Exchange worth $45,250,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ICE. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $25,000. FSA Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the 3rd quarter worth $31,000. Lee Danner & Bass Inc. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $34,000. BankPlus Trust Department bought a new stake in Intercontinental Exchange in the fourth quarter valued at about $40,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $45,000. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $166.47, for a total value of $1,761,252.60. Following the sale, the senior vice president now owns 21,992 shares in the company, valued at $3,661,008.24. This represents a 32.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,563 shares of company stock worth $10,998,990. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ICE shares. UBS Group lifted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Trading Up 0.5 %

Shares of NYSE:ICE opened at $176.56 on Friday. The company’s 50-day moving average price is $166.61 and its two-hundred day moving average price is $160.48. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $177.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $101.44 billion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released 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%. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

About Intercontinental Exchange

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.