Kentucky Retirement Systems Insurance Trust Fund Sells 1,494 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,897 shares of the financial services provider’s stock after selling 1,494 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Intercontinental Exchange were worth $2,597,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after acquiring an additional 3,536,913 shares in the last quarter. Wellington Management Group LLP raised its stake in Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after buying an additional 4,251,371 shares during the last quarter. Capital World Investors raised its stake in Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after buying an additional 2,530,119 shares during the last quarter. Parnassus Investments LLC raised its stake in Intercontinental Exchange by 23.8% during the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after buying an additional 1,621,737 shares during the last quarter. Finally, Norges Bank purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $839,259,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

ICE stock traded up $1.97 during trading on Friday, reaching $151.00. The company’s stock had a trading volume of 2,066,933 shares, compared to its average volume of 2,815,487. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $151.72. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $86.61 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. The company’s fifty day moving average is $139.66 and its 200-day moving average is $135.62.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The business’s revenue was up 20.8% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Bank of America decreased their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Barclays boosted their target price on shares of Intercontinental Exchange from $150.00 to $159.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Finally, Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $152.07.

Insider Buying and Selling at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total value of $148,600.00. Following the completion of the transaction, the insider now owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total value of $148,600.00. Following the completion of the sale, the insider now owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,267 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the completion of the sale, the director now directly owns 28,849 shares of the company’s stock, valued at approximately $3,882,209.93. The disclosure for this sale can be found here. Insiders sold 64,992 shares of company stock valued at $9,197,801 in the last 90 days. Insiders own 1.10% of the company’s stock.

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.