Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 30.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,012 shares of the financial services provider’s stock after acquiring an additional 4,428 shares during the period. Illinois Municipal Retirement Fund’s holdings in Intercontinental Exchange were worth $2,442,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $25,000. Jones Financial Companies Lllp purchased a new stake in Intercontinental Exchange in the third quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $28,000. BKM Wealth Management LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $31,000. Finally, Rakuten Securities Inc. purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ICE. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Bank of America lowered their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Raymond James boosted their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Rosenblatt Securities boosted their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, UBS Group boosted their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.08.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares of the company’s stock, valued at $1,640,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares of the company’s stock, valued at $1,640,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The disclosure for this sale can be found here. Insiders have sold 157,491 shares of company stock valued at $21,454,204 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.6 %

NYSE ICE opened at $131.81 on Friday. The company’s fifty day simple moving average is $135.97 and its 200-day simple moving average is $125.05. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The stock has a market cap of $75.48 billion, a P/E ratio of 31.38, a PEG ratio of 2.17 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.37%. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

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.