Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 815,868 shares of the financial services provider's stock after selling 38,963 shares during the period. New York State Common Retirement Fund owned 0.15% of Intercontinental Exchange worth $104,782,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ICE. CWM LLC grew its holdings in Intercontinental Exchange by 1.3% during the third quarter. CWM LLC now owns 11,947 shares of the financial services provider's stock worth $1,314,000 after purchasing an additional 157 shares during the period. Ritholtz Wealth Management lifted its position in Intercontinental Exchange by 52.8% during the third quarter. Ritholtz Wealth Management now owns 4,722 shares of the financial services provider's stock worth $519,000 after acquiring an additional 1,631 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in Intercontinental Exchange by 17.9% during the third quarter. Flagship Harbor Advisors LLC now owns 2,941 shares of the financial services provider's stock worth $324,000 after acquiring an additional 447 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Intercontinental Exchange during the third quarter worth approximately $217,000. Finally, DAVENPORT & Co LLC lifted its position in Intercontinental Exchange by 3.2% during the third quarter. DAVENPORT & Co LLC now owns 540,210 shares of the financial services provider's stock worth $59,512,000 after acquiring an additional 16,987 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm's stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the sale, the chief executive officer now owns 1,179,895 shares in the company, valued at approximately $161,893,392.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO James W. Namkung sold 1,182 shares of the business's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares in the company, valued at $2,164,763.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the business's stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the sale, the chief executive officer now directly owns 1,179,895 shares in the company, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. Insiders have sold 157,491 shares of company stock worth $21,454,204 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Up 0.5 %

Shares of NYSE ICE traded up $0.69 during trading on Tuesday, hitting $132.35. 2,375,856 shares of the company traded hands, compared to its average volume of 2,390,547. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The firm has a market capitalization of $75.78 billion, a price-to-earnings ratio of 31.40, a P/E/G ratio of 2.08 and a beta of 1.02. The business's fifty day moving average is $136.20 and its 200 day moving average is $124.80.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. The firm had revenue of $2.20 billion during 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 revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. Equities research analysts predict that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Intercontinental Exchange's previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.36%. Intercontinental Exchange's dividend payout ratio is currently 42.86%.

Intercontinental Exchange Company 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.