Kentucky Retirement Systems Has $6.43 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Kentucky Retirement Systems cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,998 shares of the financial services provider’s stock after selling 3,225 shares during the quarter. Kentucky Retirement Systems’ holdings in Intercontinental Exchange were worth $6,425,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC lifted its stake in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at about $26,000. Financial Management Professionals Inc. lifted its position in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares in the last quarter. Fairscale Capital LLC purchased a new position in Intercontinental Exchange during the second quarter worth about $25,000. Finally, Capital Performance Advisors LLP bought a new stake in Intercontinental Exchange in the 3rd quarter worth about $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ICE shares. Bank of America boosted their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a report on Monday, October 14th. Finally, TD Cowen initiated coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Transactions at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the sale, the director now owns 3,958 shares in the company, valued at $629,242.84. The trade was a 11.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $155.55 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $110.64 and a 12 month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $89.31 billion, a P/E ratio of 36.86, a P/E/G ratio of 2.57 and a beta of 1.08. The company has a 50 day moving average of $160.97 and a 200 day moving average of $149.92.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.65%.

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.