Intercontinental Exchange Inc. $ICE Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 209,811 shares of the financial services provider’s stock after acquiring an additional 7,930 shares during the quarter. Teacher Retirement System of Texas’ holdings in Intercontinental Exchange were worth $38,494,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ICE. Price T Rowe Associates Inc. MD increased its stake in shares of Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares during the period. Nuveen LLC bought a new stake in Intercontinental Exchange during the first quarter worth approximately $575,383,000. Wellington Management Group LLP boosted its holdings in Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Intercontinental Exchange by 50.6% during the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock worth $1,023,534,000 after buying an additional 1,993,084 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Intercontinental Exchange by 31.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock worth $616,836,000 after buying an additional 861,679 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research reports. UBS Group raised their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a report on Monday, October 13th. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $198.60.

Intercontinental Exchange Stock Up 1.4%

ICE stock opened at $159.78 on Tuesday. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market cap of $91.46 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.20 and a beta of 1.08. The company has a 50 day moving average of $167.89 and a two-hundred day moving average of $173.70.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the transaction, the chief operating officer owned 16,624 shares in the company, valued at approximately $2,859,992.96. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the transaction, the chief technology officer owned 65,240 shares in the company, valued at $10,365,331.20. This represents a 13.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,162 shares of company stock worth $43,642,652. Insiders own 1.00% of the company’s stock.

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.