Intercontinental Exchange Inc. (ICE) Stake Decreased by State Treasurer State of Michigan

State Treasurer State of Michigan decreased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 194,600 shares of the financial services provider’s stock after selling 1,100 shares during the period. State Treasurer State of Michigan’s holdings in Intercontinental Exchange were worth $12,828,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ICE. Liberty Capital Management Inc. boosted its position in Intercontinental Exchange by 58.7% in the first quarter. Liberty Capital Management Inc. now owns 11,644 shares of the financial services provider’s stock valued at $697,000 after buying an additional 4,309 shares in the last quarter. Park National Corp OH boosted its position in Intercontinental Exchange by 26.1% in the first quarter. Park National Corp OH now owns 58,817 shares of the financial services provider’s stock valued at $3,522,000 after buying an additional 12,191 shares in the last quarter. Macquarie Group Ltd. boosted its position in Intercontinental Exchange by 379.4% in the fourth quarter. Macquarie Group Ltd. now owns 3,398,113 shares of the financial services provider’s stock valued at $191,722,000 after buying an additional 2,689,297 shares in the last quarter. Highbridge Capital Management LLC boosted its position in Intercontinental Exchange by 123.7% in the fourth quarter. Highbridge Capital Management LLC now owns 29,613 shares of the financial services provider’s stock valued at $1,671,000 after buying an additional 16,373 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $1,088,000. 89.44% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Inc. (NYSE ICE) traded down 0.11% on Thursday, reaching $65.65. 583,246 shares of the company were exchanged. The firm has a market capitalization of $7.55 billion, a P/E ratio of 25.35 and a beta of 0.71. The firm has a 50-day moving average of $64.55 and a 200 day moving average of $60.46. Intercontinental Exchange Inc. has a 12-month low of $52.15 and a 12-month high of $67.33.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Intercontinental Exchange had a net margin of 26.48% and a return on equity of 10.67%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned $3.68 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. On average, equities analysts predict that Intercontinental Exchange Inc. will post $3.01 earnings per share for the current year.

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Several research firms have commented on ICE. Royal Bank Of Canada raised shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $65.00 to $70.00 in a research report on Thursday, July 13th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and set a $73.00 price target (up previously from $70.00) on shares of Intercontinental Exchange in a research note on Monday. BidaskClub lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Citigroup Inc. assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price target for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Intercontinental Exchange presently has a consensus rating of “Buy” and an average target price of $67.49.

In other Intercontinental Exchange news, CFO Scott A. Hill sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $65.00, for a total transaction of $1,105,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles A. Vice sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $60.53, for a total transaction of $907,950.00. Following the sale, the insider now directly owns 373,061 shares of the company’s stock, valued at $22,581,382.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,889 shares of company stock valued at $10,350,825. 1.50% of the stock is owned by corporate insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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