Intercontinental Exchange Inc. $ICE Position Cut by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas trimmed its stake in Intercontinental Exchange by 37.0%, selling 60,589 shares and reducing its holding to 102,989 shares valued at $16.68 million.
• ICE beat quarterly expectations with EPS of $1.71 (vs. $1.67 est.) and revenue of $3.14 billion (vs. $2.51 billion est.), a 7.8% year‑over‑year revenue increase.
• Insiders sold 348,418 shares worth about $54.2 million last quarter, while institutional ownership is high at 89.3% and analysts maintain a consensus Buy rating with an average price target of $193.80.

Teacher Retirement System of Texas trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 37.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 102,989 shares of the financial services provider's stock after selling 60,589 shares during the quarter. Teacher Retirement System of Texas' holdings in Intercontinental Exchange were worth $16,680,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. WP Advisors LLC lifted its stake in Intercontinental Exchange by 3.6% in the fourth quarter. WP Advisors LLC now owns 3,197 shares of the financial services provider's stock valued at $518,000 after buying an additional 110 shares during the last quarter. West Michigan Advisors LLC lifted its stake in Intercontinental Exchange by 79.1% in the fourth quarter. West Michigan Advisors LLC now owns 2,303 shares of the financial services provider's stock valued at $373,000 after buying an additional 1,017 shares during the last quarter. Amarillo National Bank lifted its stake in Intercontinental Exchange by 6.8% in the fourth quarter. Amarillo National Bank now owns 1,656 shares of the financial services provider's stock valued at $268,000 after buying an additional 106 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its stake in Intercontinental Exchange by 66.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 2,801 shares of the financial services provider's stock valued at $454,000 after buying an additional 1,119 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in Intercontinental Exchange by 174.8% in the fourth quarter. M&T Bank Corp now owns 96,241 shares of the financial services provider's stock valued at $15,587,000 after buying an additional 61,219 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $158.62 on Friday. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The firm's 50-day simple moving average is $159.96 and its 200 day simple moving average is $160.06. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a market cap of $89.85 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.64 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data 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. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The company's revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange Inc. will post 8.06 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange's payout ratio is currently 36.05%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 3,865 shares of the business's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the sale, the president directly owned 165,304 shares in the company, valued at approximately $25,412,183.92. The trade was a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the sale, the general counsel owned 48,181 shares in the company, valued at approximately $7,805,322. This trade represents a 8.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 348,418 shares of company stock valued at $54,196,631. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Morgan Stanley raised their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Barclays raised their target price on Intercontinental Exchange from $193.00 to $198.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Buy" and an average price target of $193.80.

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.

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