Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 456,100 shares of the financial services provider’s stock after selling 26,440 shares during the quarter. Employees Retirement System of Texas’ holdings in Intercontinental Exchange were worth $67,963,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ICE. Norges Bank bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $1,196,258,000. Raymond James Financial Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $406,728,000. Swedbank AB raised its stake in shares of Intercontinental Exchange by 2,293.3% in the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock valued at $330,171,000 after purchasing an additional 2,123,185 shares in the last quarter. AMF Tjanstepension AB raised its stake in shares of Intercontinental Exchange by 1,237.7% in the 4th quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock valued at $253,591,000 after purchasing an additional 1,574,386 shares in the last quarter. Finally, Egerton Capital UK LLP bought a new position in shares of Intercontinental Exchange during the fourth quarter worth about $109,270,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ICE has been the topic of several research reports. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays lifted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Bank of America reduced their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group boosted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $182.47.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, the insider now owns 12,922 shares in the company, valued at $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock valued at $10,998,990 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $156.89 on Monday. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $177.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $90.13 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. The business has a 50 day simple moving average of $168.49 and a 200 day simple moving average of $160.78.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.22%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Intercontinental Exchange Profile

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.