Teachers Retirement System of The State of Kentucky Sells 2,377 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Teachers Retirement System of The State of Kentucky lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,536 shares of the financial services provider’s stock after selling 2,377 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Intercontinental Exchange were worth $6,396,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Annapolis Financial Services LLC boosted its holdings in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the period. Redmont Wealth Advisors LLC bought a new stake in Intercontinental Exchange in the 1st quarter valued at about $26,000. Scarborough Advisors LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC boosted its holdings in Intercontinental Exchange by 82.3% in the 1st quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 93 shares during the period. Finally, Stuart Chaussee & Associates Inc. bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $28,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at $2,675,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,992 shares of company stock valued at $9,197,801. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Bank of America cut their price target 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. Argus reaffirmed a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. JPMorgan Chase & Co. upped their price target on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $153.86.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded down $1.15 during mid-day trading on Friday, reaching $149.85. The company had a trading volume of 4,482,290 shares, compared to its average volume of 2,931,175. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $153.28. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a market cap of $85.95 billion, a P/E ratio of 34.37, a P/E/G ratio of 2.68 and a beta of 1.06. The business has a fifty day simple moving average of $141.10 and a 200 day simple moving average of $136.46.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 earnings per share. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Monday, September 16th. Intercontinental Exchange’s payout ratio is currently 41.28%.

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.