Illinois Municipal Retirement Fund Acquires 3,903 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Illinois Municipal Retirement Fund boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,999 shares of the financial services provider’s stock after purchasing an additional 3,903 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Intercontinental Exchange were worth $4,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. AMF Tjanstepension AB grew its stake in Intercontinental Exchange by 14.5% in the 3rd quarter. AMF Tjanstepension AB now owns 127,199 shares of the financial services provider’s stock valued at $20,441,000 after buying an additional 16,130 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Intercontinental Exchange by 21,404.8% during the third quarter. International Assets Investment Management LLC now owns 39,999 shares of the financial services provider’s stock worth $6,425,000 after acquiring an additional 39,813 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Intercontinental Exchange by 49.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 34,785 shares of the financial services provider’s stock valued at $5,588,000 after purchasing an additional 11,498 shares during the last quarter. abrdn plc increased its stake in shares of Intercontinental Exchange by 6.8% during the third quarter. abrdn plc now owns 578,634 shares of the financial services provider’s stock worth $92,622,000 after purchasing an additional 36,703 shares during the period. Finally, Integrated Advisors Network LLC increased its stake in shares of Intercontinental Exchange by 4.0% during the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 66 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ICE. Deutsche Bank Aktiengesellschaft boosted 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. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Barclays raised their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $165.71, for a total value of $965,757.88. Following the completion of the transaction, the president now directly owns 164,041 shares in the company, valued at approximately $27,183,234.11. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares in the company, valued at $6,977,088.16. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,368 shares of company stock valued at $9,908,492. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Stock Down 0.3 %

NYSE ICE opened at $170.74 on Thursday. The business has a fifty day moving average price of $156.50 and a two-hundred day moving average price of $158.54. The stock has a market capitalization of $98.10 billion, a PE ratio of 35.72, a PEG ratio of 2.10 and a beta of 1.11. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $172.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.12%. Intercontinental Exchange’s payout ratio is currently 40.17%.

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.