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Intercontinental Exchange Inc. $ICE Shares Sold by Strs Ohio

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Key Points

  • Strs Ohio reduced its stake in Intercontinental Exchange by 5.1%, selling 10,207 shares and leaving 188,777 shares valued at about $30.57 million at quarter end.
  • ICE reported strong Q1 results, with adjusted EPS of $2.35 (vs. $2.23 consensus) and revenue of $3.67 billion, up 20.4% year‑over‑year, and analysts maintain a consensus Buy rating with a $194.10 price target.
  • The board approved an 8% higher quarterly dividend of $0.52 (annualized $2.08, 1.3% yield), while insiders have sold about 348,418 shares (~$54.2 million) over the past three months.
  • MarketBeat previews the top five stocks to own by June 1st.

Strs Ohio reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 188,777 shares of the financial services provider's stock after selling 10,207 shares during the period. Strs Ohio's holdings in Intercontinental Exchange were worth $30,574,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ICE. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $28,000. Steph & Co. boosted its position in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Dorato Capital Management purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $29,000. Finally, Caitlin John LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $155.04 on Friday. 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 market capitalization of $87.82 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 1.60 and a beta of 0.96. The firm has a 50-day simple moving average of $160.21 and a 200-day simple moving average of $159.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.02 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 EPS. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Intercontinental Exchange's payout ratio is presently 30.28%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ICE. Weiss Ratings cut Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. Barclays reiterated an "overweight" rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday. Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. UBS Group restated a "buy" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Finally, 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. One 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. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $194.10.

View Our Latest Stock Analysis on ICE

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction on 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 directly owned 48,181 shares of the company's stock, valued at $7,805,322. This trade represents a 8.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of the business's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the transaction, the insider directly owned 14,266 shares in the company, valued at $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 348,418 shares of company stock valued at $54,196,631. Corporate insiders own 0.84% of the company's stock.

Intercontinental Exchange News Summary

Here are the key news stories impacting Intercontinental Exchange this week:

Intercontinental Exchange Company Profile

(Free Report)

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.

See Also

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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