California State Teachers Retirement System Has $87.35 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Posted by on Mar 16th, 2023

California State Teachers Retirement System raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 966,823 shares of the financial services provider’s stock after acquiring an additional 13,349 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Intercontinental Exchange worth $87,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. RB Capital Management LLC increased its position in Intercontinental Exchange by 3.2% in the 1st quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 126 shares in the last quarter. United Bank boosted its stake in shares of Intercontinental Exchange by 2.7% in the 1st quarter. United Bank now owns 15,988 shares of the financial services provider’s stock valued at $2,112,000 after purchasing an additional 422 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Intercontinental Exchange by 13.5% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 220 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Intercontinental Exchange by 31.5% in the 1st quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock valued at $27,077,000 after purchasing an additional 49,081 shares during the last quarter. Finally, Prudential PLC bought a new position in shares of Intercontinental Exchange in the 1st quarter valued at about $1,679,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ICE shares. TheStreet raised shares of Intercontinental Exchange from a “c+” rating to a “b-” rating in a research note on Wednesday, January 25th. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $116.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 11th. Raymond James reduced their target price on shares of Intercontinental Exchange from $130.00 to $126.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 3rd. Citigroup lifted their price objective on shares of Intercontinental Exchange from $110.00 to $117.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intercontinental Exchange from $134.00 to $131.00 in a research note on Wednesday, January 11th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.91.

Insider Activity

In other news, CEO Jeffrey C. Sprecher sold 81,827 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $104.02, for a total value of $8,511,644.54. Following the sale, the chief executive officer now directly owns 1,203,104 shares in the company, valued at $125,146,878.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jeffrey C. Sprecher sold 81,827 shares of the business’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $104.02, for a total transaction of $8,511,644.54. Following the transaction, the chief executive officer now directly owns 1,203,104 shares in the company, valued at $125,146,878.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total transaction of $167,680.00. Following the transaction, the senior vice president now owns 21,481 shares in the company, valued at $2,251,208.80. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $97.52 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.05 and a current ratio of 1.05. Intercontinental Exchange, Inc. has a twelve month low of $88.60 and a twelve month high of $137.40. The firm’s 50 day moving average price is $105.46 and its two-hundred day moving average price is $101.48. The firm has a market cap of $54.50 billion, a P/E ratio of 37.95, a PEG ratio of 3.27 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The financial services provider reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). Intercontinental Exchange had a net margin of 15.01% and a return on equity of 13.11%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the firm posted $1.34 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts forecast that Intercontinental Exchange, Inc. will post 5.4 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a $0.42 dividend. The ex-dividend date is Thursday, March 16th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.72%. Intercontinental Exchange’s dividend payout ratio (DPR) is 65.37%.

About Intercontinental Exchange

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Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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