California Public Employees Retirement System Lowers Position in Intercontinental Exchange Inc. $ICE

California Public Employees Retirement System trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 11.7% in the third quarter, Holdings Channel reports. The firm owned 1,572,122 shares of the financial services provider’s stock after selling 208,284 shares during the period. California Public Employees Retirement System’s holdings in Intercontinental Exchange were worth $264,871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Wealth Management Group LLC boosted its stake in Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after buying an additional 66 shares during the period. Knuff & Co LLC raised its stake in shares of Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Caitlin John LLC purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $32,000. Cornerstone Planning Group LLC lifted its holdings in shares of Intercontinental Exchange by 128.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 153 shares during the last quarter. Finally, Capital A Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange by 26,000.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 260 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 3,865 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.73, for a total value of $594,166.45. Following the sale, the president owned 165,304 shares of the company’s stock, valued at $25,412,183.92. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 19th. The shares were 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 owned 27,679 shares of the company’s stock, valued at $4,262,566. The trade was a 8.25% 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 over the last quarter. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $159.12 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The stock has a market capitalization of $90.36 billion, a PE ratio of 27.58, a P/E/G ratio of 1.72 and a beta of 1.03. The firm has a 50 day moving average of $164.52 and a two-hundred day moving average of $162.21.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.67 by $0.04. The business 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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 earnings per share. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 36.05%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ICE. UBS Group reiterated a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. Barclays set a $193.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, February 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a report on Friday, March 6th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $194.73.

Intercontinental Exchange Company Profile

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.