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, Holdings Channel reports. The fund acquired 190,485 shares of the financial services provider’s stock, valued at approximately $28,384,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Intercontinental Exchange by 1.2% during the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after acquiring an additional 281,503 shares during the period. Geode Capital Management LLC raised its stake in shares of Intercontinental Exchange by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after buying an additional 169,922 shares in the last quarter. FMR LLC raised its stake in shares of Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after buying an additional 390,332 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Intercontinental Exchange by 326.3% during the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after buying an additional 3,460,096 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the sale, the president now owns 147,274 shares in the company, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,563 shares of company stock valued at $10,998,990. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $174.42 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average of $164.29 and a two-hundred day moving average of $160.08. The company has a market capitalization of $100.22 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $175.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share 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, analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

Wall Street Analyst Weigh In

ICE has been the subject of a number of analyst reports. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. cut 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. UBS Group increased 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. Barclays increased their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $178.80.

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.