Teacher Retirement System of Texas decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,881 shares of the financial services provider's stock after selling 125,404 shares during the period. Teacher Retirement System of Texas' holdings in Intercontinental Exchange were worth $34,824,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of ICE. REAP Financial Group LLC raised its position in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares in the last quarter. Tsfg LLC increased its position in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares during the period. Menard Financial Group LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $29,000. Rakuten Securities Inc. grew its stake in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. Finally, Global Trust Asset Management LLC purchased a new position in shares of Intercontinental Exchange in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.30% of the company's stock.
Insider Activity at Intercontinental Exchange
In other news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director directly owned 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel owned 48,480 shares in the company, valued at $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,749 shares of company stock worth $40,942,387 over the last quarter. 1.00% of the stock is owned by corporate insiders.
Intercontinental Exchange Stock Down 0.1%
Shares of NYSE ICE traded down $0.10 on Monday, hitting $183.01. The company had a trading volume of 1,634,674 shares, compared to its average volume of 2,988,051. Intercontinental Exchange Inc. has a 12-month low of $140.32 and a 12-month high of $183.99. The business has a 50 day moving average of $177.54 and a two-hundred day moving average of $166.98. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $104.98 billion, a P/E ratio of 37.89, a PEG ratio of 1.98 and a beta of 1.11.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. Intercontinental Exchange's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.
Intercontinental Exchange Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.05%. Intercontinental Exchange's dividend payout ratio is presently 39.75%.
Wall Street Analyst Weigh In
ICE has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley boosted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Barclays upped their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $188.46.
View Our Latest Report on ICE
About Intercontinental Exchange
(
Free Report)
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.
Recommended Stories
Before you consider Intercontinental Exchange, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Intercontinental Exchange wasn't on the list.
While Intercontinental Exchange currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
