Maryland State Retirement & Pension System Acquires 1,159 Shares of Intercontinental Exchange Inc. $ICE

Maryland State Retirement & Pension System grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,728 shares of the financial services provider’s stock after purchasing an additional 1,159 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Intercontinental Exchange were worth $5,087,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. Brighton Jones LLC boosted its position in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the period. Capital Investment Advisors LLC boosted its position in Intercontinental Exchange by 17.7% during the first quarter. Capital Investment Advisors LLC now owns 1,772 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 266 shares during the period. Wealthcare Advisory Partners LLC boosted its position in Intercontinental Exchange by 9.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,167 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 182 shares during the period. GAMMA Investing LLC boosted its position in Intercontinental Exchange by 42.0% during the first quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider’s stock worth $2,265,000 after purchasing an additional 3,883 shares during the period. Finally, Simplicity Wealth LLC boosted its position in Intercontinental Exchange by 8.6% during the first quarter. Simplicity Wealth LLC now owns 1,510 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 119 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday. UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday. Finally, Piper Sandler raised their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.10.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director directly owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the transaction, the chief operating officer directly owned 16,624 shares in the company, valued at $2,859,992.96. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock valued at $42,187,714 over the last quarter. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Down 0.2%

Shares of Intercontinental Exchange stock opened at $159.11 on Friday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm has a market cap of $91.08 billion, a PE ratio of 30.54, a PEG ratio of 1.94 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day simple moving average of $174.55 and a two-hundred day simple moving average of $174.26.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business posted $1.52 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange 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.