Arizona State Retirement System increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,505 shares of the financial services provider's stock after buying an additional 2,933 shares during the quarter. Arizona State Retirement System's holdings in Intercontinental Exchange were worth $29,067,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of ICE. Governors Lane LP grew its stake in Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock valued at $18,939,000 after acquiring an additional 59,500 shares in the last quarter. Tema Etfs LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $1,107,000. Ilmarinen Mutual Pension Insurance Co grew its position in Intercontinental Exchange by 61.0% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 157,800 shares of the financial services provider's stock valued at $23,514,000 after purchasing an additional 59,800 shares in the last quarter. SouthState Corp increased its stake in Intercontinental Exchange by 4.5% in the 4th quarter. SouthState Corp now owns 66,417 shares of the financial services provider's stock valued at $9,897,000 after buying an additional 2,851 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in Intercontinental Exchange by 18.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after buying an additional 1,879 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.
Intercontinental Exchange Stock Performance
Intercontinental Exchange stock traded down $1.37 on Friday, hitting $180.45. The company's stock had a trading volume of 1,576,878 shares, compared to its average volume of 2,973,335. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $183.99. The firm has a market cap of $103.51 billion, a P/E ratio of 37.36, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $178.47 and a 200-day moving average price of $167.60.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 earnings per share. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.
Intercontinental Exchange Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's payout ratio is presently 39.75%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday. Barclays boosted their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday. Morgan Stanley lifted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus price target of $192.58.
View Our Latest Report on Intercontinental Exchange
Insider Buying and Selling at Intercontinental Exchange
In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the sale, the senior vice president owned 27,313 shares of the company's stock, valued at $4,847,511.24. This trade represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,749 shares of company stock worth $40,942,387 over the last three months. 1.00% of the stock is currently owned by insiders.
About Intercontinental Exchange
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Free Report)
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.
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