Public Employees Retirement System of Ohio Buys Shares of 209,440 Intercontinental Exchange Inc. $ICE

Public Employees Retirement System of Ohio purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 209,440 shares of the financial services provider’s stock, valued at approximately $25,784,000.

Several other institutional investors have also modified their holdings of the business. J. Stern & Co. LLP raised its holdings in Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after buying an additional 53,798,055 shares during the period. BlackRock Inc. acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $6,245,085,000. Norges Bank acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Intercontinental Exchange during the second quarter worth $714,869,000. Finally, Flossbach Von Storch SE bought a new stake in shares of Intercontinental Exchange during the second quarter worth $649,900,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $162.46 on Friday. The stock has a market capitalization of $91.20 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $177.76. The firm has a fifty day simple moving average of $144.90 and a 200 day simple moving average of $151.50. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the firm posted $1.81 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total value of $739,935.98. Following the completion of the transaction, the general counsel directly owned 43,065 shares in the company, valued at $6,966,625.05. This trade represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Warren Gardiner sold 2,491 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the transaction, the chief financial officer directly owned 22,698 shares in the company, valued at $3,547,697.40. This trade represents a 9.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,141 shares of company stock valued at $3,554,192 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of several research reports. Piper Sandler cut their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. Weiss Ratings raised Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Barclays reiterated an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $183.33.

About Intercontinental Exchange

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.