Employees Retirement System of Texas Decreases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Employees Retirement System of Texas lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 456,100 shares of the financial services provider's stock after selling 26,440 shares during the period. Employees Retirement System of Texas owned approximately 0.08% of Intercontinental Exchange worth $67,963,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ICE. Sierra Ocean LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $25,000. REAP Financial Group LLC raised its position in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares during the last quarter. Redwood Park Advisors LLC purchased a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $33,000. Lee Danner & Bass Inc. acquired a new stake in Intercontinental Exchange during the 4th quarter valued at $34,000. Finally, BankPlus Trust Department acquired a new stake in Intercontinental Exchange during the 4th quarter valued at $40,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Bank of America reduced their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. UBS Group raised their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Barclays lifted their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $188.46.

Insider Buying and Selling at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 552 shares of Intercontinental Exchange stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total transaction of $96,335.04. Following the transaction, the insider now owns 15,658 shares in the company, valued at approximately $2,732,634.16. The trade was a 3.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martha A. Tirinnanzi sold 397 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total transaction of $70,312.67. Following the sale, the director now directly owns 4,526 shares of the company's stock, valued at approximately $801,599.86. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,579 shares of company stock valued at $584,818. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Up 0.8%

Shares of ICE traded up $1.42 during mid-day trading on Friday, hitting $179.95. The company had a trading volume of 5,439,058 shares, compared to its average volume of 3,019,494. Intercontinental Exchange, Inc. has a 1-year low of $132.57 and a 1-year high of $180.64. The business's 50-day simple moving average is $168.09 and its 200-day simple moving average is $162.63. The stock has a market cap of $103.22 billion, a PE ratio of 37.65, a P/E/G ratio of 2.10 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business earned $1.48 EPS. Intercontinental Exchange's revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. Intercontinental Exchange's payout ratio is currently 39.75%.

About Intercontinental Exchange

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.