Arizona State Retirement System lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 146,865 shares of the financial services provider’s stock after selling 600 shares during the period. Arizona State Retirement System’s holdings in Intercontinental Exchange were worth $9,681,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its stake in Intercontinental Exchange by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,838,241 shares of the financial services provider’s stock valued at $121,177,000 after buying an additional 73,925 shares during the period. Wetherby Asset Management Inc. raised its stake in Intercontinental Exchange by 4.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,111 shares of the financial services provider’s stock valued at $535,000 after buying an additional 369 shares during the period. Canada Pension Plan Investment Board raised its stake in Intercontinental Exchange by 0.6% in the second quarter. Canada Pension Plan Investment Board now owns 793,300 shares of the financial services provider’s stock valued at $52,294,000 after buying an additional 4,600 shares during the period. Morse Asset Management Inc raised its stake in Intercontinental Exchange by 11.1% in the second quarter. Morse Asset Management Inc now owns 74,525 shares of the financial services provider’s stock valued at $4,913,000 after buying an additional 7,450 shares during the period. Finally, Arrow Financial Corp raised its stake in Intercontinental Exchange by 9.7% in the second quarter. Arrow Financial Corp now owns 44,774 shares of the financial services provider’s stock valued at $2,951,000 after buying an additional 3,951 shares during the period. 89.50% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Inc. (NYSE ICE) opened at 65.16 on Friday. The firm has a market capitalization of $7.50 billion, a P/E ratio of 24.14 and a beta of 0.71. Intercontinental Exchange Inc. has a 1-year low of $52.27 and a 1-year high of $67.48. The company has a 50 day moving average of $65.78 and a 200 day moving average of $61.42.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current year.

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Several research firms have issued reports on ICE. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price target (up from $70.00) on shares of Intercontinental Exchange in a research report on Monday, July 17th. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Thursday, July 13th. Royal Bank Of Canada raised shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $70.00 in a research report on Thursday, July 13th. Citigroup Inc. started coverage on shares of Intercontinental Exchange in a research report on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price target on the stock. Finally, BidaskClub lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.49.

In other Intercontinental Exchange news, Director Charles R. Crisp sold 3,365 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $58.65, for a total value of $197,357.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jean Marc Forneri sold 6,000 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $58.27, for a total value of $349,620.00. Following the completion of the transaction, the director now owns 47,350 shares of the company’s stock, valued at approximately $2,759,084.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,389 shares of company stock valued at $10,279,500. 1.50% of the stock is owned by insiders.

About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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