Teacher Retirement System of Texas Lowers Stock Position in Intercontinental Exchange Inc. $ICE

Teacher Retirement System of Texas cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 22.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 163,578 shares of the financial services provider’s stock after selling 46,233 shares during the period. Teacher Retirement System of Texas’ holdings in Intercontinental Exchange were worth $27,560,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange during the 2nd quarter valued at $28,000. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $29,000. Hilltop National Bank purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $31,000. Knuff & Co LLC boosted its position in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Finally, Private Wealth Management Group LLC grew its stake in Intercontinental Exchange by 59.5% in the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating and set a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. UBS Group reissued a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Trading Down 0.8%

Shares of Intercontinental Exchange stock opened at $172.94 on Friday. The firm’s 50 day simple moving average is $161.89 and its two-hundred day simple moving average is $167.23. The firm has a market capitalization of $98.61 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 2.12 and a beta of 1.03. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 3,700 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $157.96, for a total transaction of $584,452.00. Following the sale, the director owned 14,469 shares in the company, valued at approximately $2,285,523.24. The trade was a 20.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $153.65, for a total value of $241,537.80. Following the completion of the transaction, the chief financial officer owned 20,534 shares of the company’s stock, valued at approximately $3,155,049.10. The trade was a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 166,068 shares of company stock worth $25,470,702 in the last quarter. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Company 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.