Teachers Retirement System of The State of Kentucky Boosts Position in Intercontinental Exchange Inc. $ICE

Teachers Retirement System of The State of Kentucky raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 134.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 105,509 shares of the financial services provider’s stock after buying an additional 60,488 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Intercontinental Exchange were worth $17,776,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Optivise Advisory Services LLC boosted its stake in shares of Intercontinental Exchange by 3.1% in the second quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after buying an additional 54 shares during the last quarter. ICONIQ Capital LLC grew its position in shares of Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of Intercontinental Exchange by 5.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after buying an additional 58 shares in the last quarter. Elyxium Wealth LLC grew its position in shares of Intercontinental Exchange by 1.2% in the second quarter. Elyxium Wealth LLC now owns 5,087 shares of the financial services provider’s stock valued at $933,000 after purchasing an additional 62 shares during the period. Finally, Cascade Investment Advisors Inc. raised its position in shares of Intercontinental Exchange by 0.5% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 13,766 shares of the financial services provider’s stock worth $2,319,000 after purchasing an additional 65 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $164.74 on Wednesday. The stock’s 50-day simple moving average is $164.59 and its 200-day simple moving average is $163.06. The firm has a market capitalization of $93.56 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. Intercontinental Exchange’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Intercontinental Exchange’s payout ratio is currently 33.28%.

Insider Buying and Selling at Intercontinental Exchange

In other news, President Benjamin Jackson sold 12,861 shares of Intercontinental Exchange stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total value of $2,122,065.00. Following the transaction, the president directly owned 165,692 shares of the company’s stock, valued at $27,339,180. The trade was a 7.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 15,213 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total value of $2,358,319.26. Following the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,055,992.38. This represents a 19.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 359,063 shares of company stock valued at $55,879,604. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

ICE has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Raymond James Financial reissued a “strong-buy” rating and issued a $211.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Morgan Stanley set a $183.00 price objective on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Buy” and a consensus target price of $195.40.

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.