Kentucky Retirement Systems Insurance Trust Fund Buys 12,454 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 305.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,528 shares of the financial services provider's stock after acquiring an additional 12,454 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Intercontinental Exchange were worth $2,851,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Manning & Napier Advisors LLC increased its position in Intercontinental Exchange by 4.5% during the first quarter. Manning & Napier Advisors LLC now owns 400,912 shares of the financial services provider's stock worth $69,157,000 after acquiring an additional 17,348 shares during the period. Childress Capital Advisors LLC increased its position in Intercontinental Exchange by 67.7% during the first quarter. Childress Capital Advisors LLC now owns 2,533 shares of the financial services provider's stock worth $437,000 after acquiring an additional 1,023 shares during the period. Running Oak Capital LLC increased its position in Intercontinental Exchange by 6.0% during the first quarter. Running Oak Capital LLC now owns 95,514 shares of the financial services provider's stock worth $16,476,000 after acquiring an additional 5,399 shares during the period. First American Bank increased its position in Intercontinental Exchange by 2.1% during the first quarter. First American Bank now owns 76,332 shares of the financial services provider's stock worth $13,167,000 after acquiring an additional 1,580 shares during the period. Finally, Nilsine Partners LLC bought a new stake in Intercontinental Exchange in the 1st quarter valued at $219,000. Institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

ICE has been the topic of several analyst reports. Bank of America lowered their price target 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. Barclays boosted their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.46.

Insiders Place Their Bets

In other news, Director Martha A. Tirinnanzi sold 397 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the transaction, the director now directly owns 4,526 shares in the company, valued at approximately $801,599.86. This represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the sale, the chief accounting officer now directly owns 13,220 shares of the company's stock, valued at approximately $2,379,600. This represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 227,954 shares of company stock valued at $40,796,663 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 0.8%

Shares of NYSE:ICE opened at $178.27 on Friday. Intercontinental Exchange Inc. has a 52 week low of $136.21 and a 52 week high of $181.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The company's fifty day moving average is $172.76 and its 200-day moving average is $164.79. The company has a market capitalization of $102.26 billion, a PE ratio of 36.91, a P/E/G ratio of 1.93 and a beta of 1.12.

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

Intercontinental Exchange Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.08%. Intercontinental Exchange's dividend payout ratio (DPR) is 39.75%.

About Intercontinental Exchange

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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