State of New Jersey Common Pension Fund D Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

State of New Jersey Common Pension Fund D trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 325,854 shares of the financial services provider’s stock after selling 2,269 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Intercontinental Exchange were worth $41,849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 2.2% in the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after buying an additional 1,012,034 shares during the period. Wellington Management Group LLP increased its stake in Intercontinental Exchange by 219.8% in the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after purchasing an additional 8,348,126 shares during the period. Northern Trust Corp lifted its position in shares of Intercontinental Exchange by 3.9% during the third quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock worth $832,623,000 after purchasing an additional 282,963 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Intercontinental Exchange by 21.1% during the third quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock valued at $668,231,000 after purchasing an additional 1,058,536 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Intercontinental Exchange by 3.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,847,229 shares of the financial services provider’s stock worth $533,292,000 after purchasing an additional 173,236 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Morgan Stanley boosted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Bank of America reduced their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Finally, Rosenblatt Securities increased their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.08.

Intercontinental Exchange Stock Down 0.1 %

ICE traded down $0.13 on Friday, hitting $131.69. The company had a trading volume of 2,406,708 shares, compared to its average volume of 2,386,540. The stock has a market capitalization of $75.41 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 2.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average price of $135.97 and a 200-day moving average price of $125.05. Intercontinental Exchange, Inc. has a 12-month low of $103.81 and a 12-month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 27,970 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the transaction, the president now owns 138,487 shares in the company, valued at approximately $18,659,738.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, President Benjamin Jackson sold 27,970 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the sale, the president now owns 138,487 shares in the company, valued at approximately $18,659,738.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was purchased at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 157,491 shares of company stock worth $21,454,204. Insiders own 1.10% of the company’s stock.

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.