New York State Common Retirement Fund Decreases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

New York State Common Retirement Fund trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 815,868 shares of the financial services provider’s stock after selling 38,963 shares during the quarter. New York State Common Retirement Fund’s holdings in Intercontinental Exchange were worth $104,782,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ICE. OFI Invest Asset Management bought a new position in Intercontinental Exchange during the 3rd quarter worth approximately $25,000. Jones Financial Companies Lllp bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,000. BKM Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $31,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $39,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.1 %

NYSE:ICE traded up $0.17 during trading hours on Tuesday, reaching $131.82. 871,081 shares of the company traded hands, compared to its average volume of 2,370,963. The business’s 50-day moving average price is $136.20 and its two-hundred day moving average price is $124.80. The stock has a market capitalization of $75.48 billion, a P/E ratio of 31.35, a P/E/G ratio of 2.08 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. The company’s revenue was up 24.5% on a year-over-year basis. Analysts predict that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

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

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total value of $8,011,417.48. Following the completion of the transaction, the chief executive officer now owns 1,179,895 shares in the company, valued at $161,893,392.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total value of $8,011,417.48. Following the completion of the sale, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. Insiders sold 157,491 shares of company stock worth $21,454,204 over the last quarter. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Raymond James lifted their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $152.00 price target on shares of Intercontinental Exchange in a research report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price target 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, UBS Group lifted their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.08.

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.