Ilmarinen Mutual Pension Insurance Co Sells 38,000 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Posted by Defense World Staff on Sep 13th, 2023

Ilmarinen Mutual Pension Insurance Co reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 25.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,000 shares of the financial services provider’s stock after selling 38,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Intercontinental Exchange were worth $11,368,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ICE. GPS Wealth Strategies Group LLC bought a new position in Intercontinental Exchange during the 1st quarter worth approximately $25,000. OLD Mission Capital LLC purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Intercontinental Exchange by 187.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 256 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 167 shares during the last quarter. Spire Wealth Management increased its position in shares of Intercontinental Exchange by 374.6% in the first quarter. Spire Wealth Management now owns 299 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 236 shares during the period. Finally, Piscataqua Savings Bank raised its stake in shares of Intercontinental Exchange by 35.1% during the first quarter. Piscataqua Savings Bank now owns 385 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. 87.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 496 shares of Intercontinental Exchange stock in a transaction on Monday, August 21st. The shares were sold at an average price of $113.56, for a total transaction of $56,325.76. Following the completion of the transaction, the director now directly owns 2,878 shares of the company’s stock, valued at $326,825.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $115.43, for a total transaction of $57,715.00. Following the completion of the sale, the chief financial officer now directly owns 15,525 shares of the company’s stock, valued at approximately $1,792,050.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martha A. Tirinnanzi sold 496 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $113.56, for a total value of $56,325.76. Following the completion of the transaction, the director now directly owns 2,878 shares in the company, valued at approximately $326,825.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,136 shares of company stock worth $819,994. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on ICE shares. Raymond James increased their price objective on Intercontinental Exchange from $133.00 to $137.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intercontinental Exchange from $125.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Friday, August 4th. Citigroup raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price target for the stock from $117.00 to $130.00 in a research note on Friday, August 4th. Finally, UBS Group lifted their price objective on Intercontinental Exchange from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, September 8th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

Check Out Our Latest Stock Report on Intercontinental Exchange

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $115.98 on Wednesday. The stock’s fifty day moving average is $115.15 and its 200 day moving average is $109.30. Intercontinental Exchange, Inc. has a one year low of $88.60 and a one year high of $118.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $64.98 billion, a P/E ratio of 38.53, a P/E/G ratio of 2.32 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.06. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm posted $1.32 EPS. Intercontinental Exchange’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 5.65 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.68 dividend on an annualized basis and a yield of 1.45%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 55.81%.

About Intercontinental Exchange

(Free Report)

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.