Strs Ohio Sells 7,535 Shares of Intercontinental Exchange Inc. $ICE

Strs Ohio lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 181,242 shares of the financial services provider’s stock after selling 7,535 shares during the period. Strs Ohio’s holdings in Intercontinental Exchange were worth $28,506,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. Holos Integrated Wealth LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Steph & Co. lifted its stake in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 89 shares during the period. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,000. Finally, Swiss RE Ltd. bought a new position in Intercontinental Exchange in the fourth quarter valued at about $28,000. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on 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 owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,425 shares of company stock worth $2,046,324 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ICE. Morgan Stanley lifted their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Barclays reaffirmed an “overweight” rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Friday, March 6th. The Goldman Sachs Group dropped their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, TD Cowen cut their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $188.58.

Intercontinental Exchange Trading Down 0.3%

NYSE ICE opened at $132.57 on Friday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $189.35. The stock has a 50-day simple moving average of $144.62 and a 200 day simple moving average of $156.46. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $74.97 billion, a PE ratio of 19.30, a P/E/G ratio of 1.24 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.72 earnings per share. Research analysts forecast that Intercontinental Exchange Inc. will post 8.37 EPS for the current year.

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.