State of Alaska Department of Revenue Trims Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

State of Alaska Department of Revenue lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,806 shares of the financial services provider’s stock after selling 6,205 shares during the period. State of Alaska Department of Revenue’s holdings in Intercontinental Exchange were worth $7,937,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at $26,000. OFI Invest Asset Management bought a new stake in shares of Intercontinental Exchange during the 3rd quarter worth $25,000. BKM Wealth Management LLC purchased a new position in Intercontinental Exchange in the fourth quarter worth $31,000. Finally, First Capital Advisors Group LLC. bought a new position in Intercontinental Exchange in the second quarter valued at $35,000. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 500 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $125.90, for a total value of $7,351,049.20. Following the sale, the chief executive officer now directly owns 1,152,375 shares of the company’s stock, valued at $145,084,012.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the transaction, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,253 shares of company stock valued at $20,486,424. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ICE. Piper Sandler lifted their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $133.00 to $139.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 13th. Finally, UBS Group lifted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.83.

Read Our Latest Analysis on ICE

Intercontinental Exchange Stock Up 0.3 %

NYSE ICE opened at $137.43 on Friday. The business’s 50-day moving average is $134.63 and its 200 day moving average is $122.18. The stock has a market capitalization of $78.70 billion, a PE ratio of 32.72, a PEG ratio of 2.46 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1 year low of $99.84 and a 1 year high of $140.43.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business’s revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 earnings per share. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.91 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.31%. Intercontinental Exchange’s dividend payout ratio is 42.86%.

Intercontinental Exchange Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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