Employees Retirement System of Texas Cuts Stock Holdings in Intercontinental Exchange Inc. $ICE

Employees Retirement System of Texas cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 owned about 0.09% of Intercontinental Exchange worth $88,657,000 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 increased its holdings in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares during the period. Knuff & Co LLC boosted 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 buying an additional 74 shares during the period. Caitlin John LLC acquired a new position in shares of Intercontinental Exchange during the third quarter worth about $32,000. Cornerstone Planning Group LLC increased its stake in shares of Intercontinental Exchange by 128.6% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $46,000 after buying an additional 153 shares during the period. Finally, Capital A Wealth Management LLC increased its stake in shares of Intercontinental Exchange by 26,000.0% during the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after buying an additional 260 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ICE. Royal Bank Of Canada reiterated an “outperform” rating and issued a $180.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research report on Friday, March 6th. Barclays set a $193.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Buy” and an average price target of $194.73.

Insider Buying and Selling at Intercontinental Exchange

In related news, President Benjamin Jackson sold 3,865 shares of the firm’s 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 owned 165,304 shares in the company, valued at $25,412,183.92. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 27,679 shares in the company, valued at approximately $4,262,566. This trade represents a 8.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 348,418 shares of company stock valued at $54,196,631. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 1.0%

Shares of Intercontinental Exchange stock opened at $158.57 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $164.54 and a 200-day simple moving average of $162.47. The stock has a market cap of $90.05 billion, a price-to-earnings ratio of 27.48, a PEG 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 announced 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. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the business earned $1.52 EPS. Intercontinental Exchange’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

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.