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

Key Points

• Public Employees Retirement Association of Colorado cut its Intercontinental Exchange stake by 54.8% in the fourth quarter, selling 629,194 shares and leaving it with 518,839 shares valued at about $84.0 million.
• Intercontinental Exchange posted strong first-quarter results, with EPS of $2.35 beating estimates and revenue rising 20.4% year over year to $3.67 billion.
• Analyst sentiment remains mostly positive despite a recent downgrade from Weiss Ratings, with a Moderate Buy consensus and an average price target of $193.

Public Employees Retirement Association of Colorado decreased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 54.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 518,839 shares of the financial services provider's stock after selling 629,194 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.09% of Intercontinental Exchange worth $84,031,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $25,000. Dorato Capital Management bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $29,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,000. Steph & Co. lifted 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 purchasing an additional 89 shares during the last quarter. Finally, Holos Integrated Wealth LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.2%

ICE opened at $140.26 on Monday. Intercontinental Exchange Inc. has a one year low of $136.67 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock's fifty day moving average is $154.22 and its 200-day moving average is $159.32. The company has a market capitalization of $79.32 billion, a PE ratio of 20.42, a P/E/G ratio of 1.35 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping 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 company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the business earned $1.72 EPS. The company's quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ICE. Weiss Ratings downgraded Intercontinental Exchange from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 2nd. UBS Group reissued a "buy" rating and issued a $205.00 price target on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Morgan Stanley raised their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday. Finally, Barclays reissued an "overweight" rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $193.00.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the business's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company's stock, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on 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 transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,092 shares of company stock worth $1,860,424 over the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

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.

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