Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,999 shares of the financial services provider’s stock after selling 1,501 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Intercontinental Exchange were worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of ICE. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after acquiring an additional 3,536,913 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Intercontinental Exchange by 4.5% during the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after purchasing an additional 191,763 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Intercontinental Exchange by 10.4% during the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after purchasing an additional 284,664 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Intercontinental Exchange by 0.7% in the 1st quarter. Bessemer Group Inc. now owns 2,795,043 shares of the financial services provider’s stock valued at $384,122,000 after purchasing an additional 19,127 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of Intercontinental Exchange by 11.1% in the 3rd quarter. Raymond James & Associates now owns 2,535,785 shares of the financial services provider’s stock valued at $407,348,000 after purchasing an additional 253,324 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock valued at $1,202,259 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 0.6 %

Shares of NYSE ICE opened at $155.55 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average is $160.97 and its two-hundred day moving average is $149.92. Intercontinental Exchange, Inc. has a 12-month low of $110.64 and a 12-month high of $167.99. The company has a market capitalization of $89.31 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.65%.

Analyst Ratings Changes

ICE has been the topic of a number of recent research reports. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Barclays decreased their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. TD Cowen initiated coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Finally, Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.