Louisiana State Employees Retirement System Makes New $4.54 Million Investment in Intercontinental Exchange Inc. $ICE

by · The Markets Daily

Louisiana State Employees Retirement System purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 28,900 shares of the financial services provider’s stock, valued at approximately $4,545,000.

Other large investors have also recently modified their holdings of the company. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Steph & Co. grew its stake in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares in the last quarter. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange in the 4th quarter worth $28,000. Finally, Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange in the 4th quarter worth $28,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $124.06 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $147.92 and a 200-day moving average price of $157.60. The company has a market cap of $70.16 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $123.74 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period last year, the firm earned $1.72 earnings per share. Intercontinental Exchange’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.37 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 13,425 shares of company stock worth $2,046,324. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ICE shares. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Morgan Stanley increased their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. UBS Group reaffirmed a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Finally, Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $189.36.

Check Out Our Latest Research Report on ICE

About Intercontinental Exchange

(Free Report)

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.

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