Louisiana State Employees Retirement System purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,900 shares of the financial services provider’s stock, valued at approximately $4,545,000.
A number of other institutional investors have also added to or reduced their stakes in the company. First American Bank boosted its stake in shares of Intercontinental Exchange by 2.1% in the 1st quarter. First American Bank now owns 79,912 shares of the financial services provider’s stock worth $12,569,000 after buying an additional 1,656 shares during the last quarter. Silver Oak Securities Incorporated boosted its position in Intercontinental Exchange by 13.9% in the first quarter. Silver Oak Securities Incorporated now owns 4,589 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 560 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in Intercontinental Exchange by 4.8% in the first quarter. Kestra Private Wealth Services LLC now owns 78,096 shares of the financial services provider’s stock worth $12,283,000 after purchasing an additional 3,565 shares during the last quarter. Financial Enhancement Group LLC grew its stake in Intercontinental Exchange by 5.1% in the 1st quarter. Financial Enhancement Group LLC now owns 72,446 shares of the financial services provider’s stock valued at $11,681,000 after purchasing an additional 3,498 shares during the period. Finally, Ritholtz Wealth Management grew its stake in Intercontinental Exchange by 2.1% in the 1st quarter. Ritholtz Wealth Management now owns 10,057 shares of the financial services provider’s stock valued at $1,582,000 after purchasing an additional 205 shares during the period. 89.30% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Barclays reiterated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. UBS Group reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Finally, TD Cowen reduced their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $189.36.
Intercontinental Exchange Price Performance
Intercontinental Exchange stock opened at $124.06 on Friday. Intercontinental Exchange Inc. has a one year low of $123.74 and a one year high of $189.35. The business has a fifty day moving average price of $147.92 and a 200-day moving average price of $157.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $70.16 billion, a P/E ratio of 18.06, a PEG ratio of 1.16 and a beta of 0.92.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the company posted $1.72 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.37 EPS for the current year.
Insider Activity
In other news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is currently owned by insiders.
Intercontinental Exchange Profile
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.
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