Nordea Investment Management AB Has $9.45 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Nordea Investment Management AB grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,369 shares of the financial services provider’s stock after purchasing an additional 4,893 shares during the quarter. Nordea Investment Management AB’s holdings in Intercontinental Exchange were worth $9,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ICE. Fairscale Capital LLC bought a new stake in Intercontinental Exchange during the second quarter worth approximately $25,000. Wolff Wiese Magana LLC boosted its holdings in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Intercontinental Exchange in the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. increased its position in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Intercontinental Exchange in the third quarter worth $29,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now directly owns 44,702 shares in the company, valued at $6,977,088.16. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the sale, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,533 shares of company stock worth $1,196,279 over the last three months. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ICE. Piper Sandler lifted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. TD Cowen started coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. Barclays boosted their target price on Intercontinental Exchange from $173.00 to $187.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.07.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $146.35 on Friday. The company has a market capitalization of $84.03 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The company has a 50-day simple moving average of $154.33 and a 200 day simple moving average of $155.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. On average, research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

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.