Teacher Retirement System of Texas Sells 46,233 Shares of Intercontinental Exchange Inc. $ICE

Teacher Retirement System of Texas reduced its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 22.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 163,578 shares of the financial services provider’s stock after selling 46,233 shares during the period. Teacher Retirement System of Texas’ holdings in Intercontinental Exchange were worth $27,560,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange during the second quarter worth approximately $28,000. Westside Investment Management Inc. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $29,000. Private Wealth Management Group LLC boosted its holdings in shares of Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares during the period. Hilltop National Bank bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $31,000. Finally, Knuff & Co LLC raised its holdings in Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 0.8%

NYSE ICE opened at $172.94 on Friday. The stock has a market cap of $98.61 billion, a PE ratio of 31.50, a PEG ratio of 2.12 and a beta of 1.03. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The company’s 50-day moving average price is $161.89 and its 200-day moving average price is $167.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. JPMorgan Chase & Co. cut their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $193.50.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 1,572 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $153.65, for a total value of $241,537.80. Following the transaction, the chief financial officer owned 20,534 shares of the company’s stock, valued at $3,155,049.10. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mayur Kapani sold 5,345 shares of Intercontinental Exchange stock in a transaction on Monday, December 8th. The shares were sold at an average price of $156.67, for a total value of $837,401.15. Following the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,221,150.80. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 166,068 shares of company stock valued at $25,470,702 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.