Kentucky Retirement Systems Sells 3,225 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Kentucky Retirement Systems lowered its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 7.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,998 shares of the financial services provider's stock after selling 3,225 shares during the period. Kentucky Retirement Systems' holdings in Intercontinental Exchange were worth $6,425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC bought a new stake in Intercontinental Exchange in the second quarter valued at about $25,000. International Assets Investment Management LLC acquired a new stake in Intercontinental Exchange during the second quarter valued at approximately $25,000. Fairscale Capital LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Wolff Wiese Magana LLC raised its holdings in shares of Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock worth $25,000 after buying an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange during the third quarter valued at $26,000. Institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

ICE has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Piper Sandler raised their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Bank of America upped their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the company a "hold" rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded down $0.92 during midday trading on Friday, reaching $155.55. 2,795,449 shares of the company's stock were exchanged, compared to its average volume of 2,569,783. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $89.31 billion, a price-to-earnings ratio of 36.86, a P/E/G ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52 week low of $110.64 and a 52 week high of $167.99. The stock's 50-day simple moving average is $160.97 and its 200 day simple moving average is $149.92.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting 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 period in the prior year, the firm earned $1.46 EPS. The business's revenue was up 17.3% on a year-over-year basis. On average, analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO James W. Namkung sold 1,171 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now directly owns 16,665 shares of the company's stock, valued at approximately $2,666,400. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now owns 16,576 shares of the company's stock, valued at approximately $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,489 shares of company stock valued at $1,202,259. Insiders own 1.10% of the company's stock.

Intercontinental Exchange Company 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.