Intercontinental Exchange Inc. $ICE Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 54.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 518,839 shares of the financial services provider’s stock after selling 629,194 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Intercontinental Exchange were worth $84,031,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ICE. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth $28,000. Steph & Co. grew its holdings in shares of Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. Swiss RE Ltd. purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,000. Finally, Dorato Capital Management purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,092 shares of company stock worth $1,860,424 over the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $211.00 price target (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Morgan Stanley lifted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Friday, March 6th. Finally, Barclays reiterated an “overweight” rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

Intercontinental Exchange Price Performance

ICE opened at $140.26 on Monday. The stock has a market cap of $79.32 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.35 and a beta of 0.92. Intercontinental Exchange Inc. has a 1 year low of $136.67 and a 1 year high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $154.22 and a 200 day moving average price of $159.32.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Intercontinental Exchange 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.