Intercontinental Exchange Inc. $ICE Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas reduced its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 526,214 shares of the financial services provider’s stock after selling 4,000 shares during the period. Employees Retirement System of Texas’ holdings in Intercontinental Exchange were worth $88,657,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. ICONIQ Capital LLC raised its holdings in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after buying an additional 56 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Intercontinental Exchange by 5.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after buying an additional 58 shares during the last quarter. Cascade Investment Advisors Inc. increased its position in Intercontinental Exchange by 0.5% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 13,766 shares of the financial services provider’s stock valued at $2,319,000 after acquiring an additional 65 shares during the period. Private Wealth Management Group LLC increased its position in Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 66 shares during the period. Finally, Ipswich Investment Management Co. Inc. raised its stake in Intercontinental Exchange by 3.2% during the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 2,248 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 70 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the completion of the transaction, the chief financial officer directly owned 27,679 shares in the company, valued at approximately $4,262,566. This represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 3,865 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.73, for a total transaction of $594,166.45. Following the transaction, the president directly owned 165,304 shares in the company, valued at approximately $25,412,183.92. This represents a 2.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 348,418 shares of company stock worth $54,196,631 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $158.57 on Friday. The business’s 50 day simple moving average is $164.54 and its 200-day simple moving average is $162.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $90.05 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.04. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is presently 33.28%.

Analyst Upgrades and Downgrades

ICE has been the topic of several analyst reports. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Barclays set a $193.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus price target of $194.73.

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.