Public Sector Pension Investment Board Buys 4,677 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 3.1%, buying an additional 4,677 shares for a total of 153,649 shares valued at $26,504,000.
• Equities analysts have raised their price targets for Intercontinental Exchange shares, with Piper Sandler and UBS Group setting new targets of $202.00 and $210.00, respectively, resulting in a consensus target price of $194.92.
• Intercontinental Exchange recently declared a quarterly dividend of $0.48 per share, translating to an annualized dividend of $1.92, reflecting a dividend yield of 1.0%.

Public Sector Pension Investment Board boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 153,649 shares of the financial services provider's stock after purchasing an additional 4,677 shares during the quarter. Public Sector Pension Investment Board's holdings in Intercontinental Exchange were worth $26,504,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ICE. REAP Financial Group LLC lifted its position in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Tsfg LLC increased its holdings in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the last quarter. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $29,000. Rakuten Securities Inc. grew its stake in shares of Intercontinental Exchange by 595.8% in the first 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, McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange in the first quarter valued at about $30,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insiders Place Their Bets

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the sale, the chief executive officer owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. This trade represents a 7.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the sale, the senior vice president directly owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. The trade was a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 443,488 shares of company stock worth $80,323,823 in the last quarter. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Down 0.9%

Shares of ICE stock traded down $1.56 during trading hours on Friday, hitting $181.12. 2,840,944 shares of the company were exchanged, compared to its average volume of 3,072,402. The firm has a market cap of $103.68 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.17 and a beta of 1.11. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day simple moving average of $182.02 and a two-hundred day simple moving average of $173.39.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 EPS. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.1%. Intercontinental Exchange's payout ratio is currently 36.85%.

Wall Street Analyst Weigh In

Several research firms recently commented on ICE. Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Barclays increased their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $194.92.

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.