Teachers Retirement System of The State of Kentucky Cuts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,783 shares of the financial services provider’s stock after selling 1,731 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Intercontinental Exchange were worth $5,256,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ICE. Covestor Ltd purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $38,000. Advisor Resource Council purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $342,000. Renaissance Technologies LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $23,674,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Intercontinental Exchange by 26.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,337 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 2,355 shares during the period. Finally, Financial Advisory Service Inc. purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $218,000. 87.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,500 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $107.00, for a total transaction of $267,500.00. Following the sale, the general counsel now owns 42,007 shares in the company, valued at $4,494,749. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $107.73, for a total transaction of $172,368.00. Following the sale, the senior vice president now owns 22,402 shares in the company, valued at $2,413,367.46. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 2,500 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $107.00, for a total transaction of $267,500.00. Following the sale, the general counsel now owns 42,007 shares in the company, valued at approximately $4,494,749. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $97.27 on Friday. Intercontinental Exchange, Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $139.79. The company has a 50 day simple moving average of $102.18 and a two-hundred day simple moving average of $108.86. The company has a market capitalization of $54.32 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 3.55 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.04 and a current ratio of 1.04.

Intercontinental Exchange (NYSE:ICEGet Rating) last announced its earnings results on Thursday, August 4th. The financial services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.01. Intercontinental Exchange had a net margin of 35.58% and a return on equity of 13.52%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts expect that Intercontinental Exchange, Inc. will post 5.36 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, September 15th. Intercontinental Exchange’s dividend payout ratio is 25.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ICE. Rosenblatt Securities began coverage on shares of Intercontinental Exchange in a report on Tuesday, August 16th. They set a “buy” rating and a $164.00 target price for the company. Argus dropped their target price on shares of Intercontinental Exchange from $148.00 to $138.00 in a report on Wednesday, June 1st. UBS Group dropped their target price on shares of Intercontinental Exchange from $134.00 to $126.00 in a report on Monday, July 11th. Raymond James dropped their target price on shares of Intercontinental Exchange from $142.00 to $126.00 and set a “strong-buy” rating for the company in a report on Wednesday, June 22nd. Finally, Atlantic Securities increased their price target on shares of Intercontinental Exchange from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $136.75.

Intercontinental Exchange Company Profile

(Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

Further Reading

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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