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

DnB Asset Management AS raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 303,672 shares of the financial services provider's stock after purchasing an additional 6,667 shares during the quarter. DnB Asset Management AS owned 0.05% of Intercontinental Exchange worth $45,250,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ICE. Sierra Ocean LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $25,000. FSA Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth $31,000. Lee Danner & Bass Inc. purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth $34,000. BankPlus Trust Department bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $40,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Intercontinental Exchange in the 4th quarter worth about $45,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

NYSE:ICE traded down $0.63 during trading hours on Tuesday, hitting $171.87. 1,528,767 shares of the stock traded hands, compared to its average volume of 2,788,134. The stock has a 50 day moving average price of $167.59 and a 200 day moving average price of $160.65. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45. The company has a market cap of $98.75 billion, a price-to-earnings ratio of 35.96, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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Intercontinental Exchange (NYSE:ICE - Get Free Report) 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 net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange's payout ratio is 40.17%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. UBS Group boosted their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Three equities 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, the stock has an average rating of "Moderate Buy" and an average target price of $178.80.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the transaction, the senior vice president now directly owns 21,992 shares in the company, valued at $3,661,008.24. This trade represents a 32.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48. Following the sale, the president now directly owns 155,174 shares of the company's stock, valued at approximately $25,855,091.88. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock valued at $10,998,990 in the last ninety days. 1.10% of the stock is owned by company 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.