Intercontinental Exchange Inc. (NYSE:ICE) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,331 shares of the financial services provider's stock after acquiring an additional 1,880 shares during the quarter. State of Alaska Department of Revenue's holdings in Intercontinental Exchange were worth $11,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. REAP Financial Group LLC lifted its holdings in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares in the last quarter. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at $29,000. Rakuten Securities Inc. lifted its holdings in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Activity at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 397 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the sale, the director now owns 4,526 shares of the company's stock, valued at $801,599.86. This represents a 8.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the sale, the chief executive officer now directly owns 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 227,954 shares of company stock valued at $40,796,663 in the last quarter. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $179.57 on Thursday. The firm has a market cap of $103.00 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The firm's 50-day simple moving average is $171.83 and its 200-day simple moving average is $164.43. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc. has a 1 year low of $134.78 and a 1 year high of $181.65.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business posted $1.48 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio is presently 39.75%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted 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. Barclays boosted their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average price target of $188.46.

Intercontinental Exchange Profile

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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