Public Sector Pension Investment Board Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Public Sector Pension Investment Board cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 64.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,183 shares of the financial services provider’s stock after selling 180,700 shares during the period. Public Sector Pension Investment Board’s holdings in Intercontinental Exchange were worth $16,093,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ICE. New Millennium Group LLC purchased a new stake in Intercontinental Exchange during the 2nd quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in Intercontinental Exchange during the 2nd quarter worth $25,000. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange during the 2nd quarter worth $25,000. Wolff Wiese Magana LLC boosted its position in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter worth $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 750 shares of the company’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 transaction 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,696 shares of company stock worth $1,554,559. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

NYSE ICE opened at $161.19 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $111.82 and a 52 week high of $167.99. The stock has a market cap of $92.55 billion, a price-to-earnings ratio of 38.20, a price-to-earnings-growth ratio of 2.66 and a beta of 1.08. The company has a 50-day moving average price of $160.59 and a two-hundred day moving average price of $151.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS 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 business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business earned $1.46 earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. Analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research reports. TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Bank of America boosted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.