California Public Employees Retirement System raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,294,335 shares of the financial services provider’s stock after purchasing an additional 26,000 shares during the period. California Public Employees Retirement System owned 0.22% of Intercontinental Exchange worth $85,323,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Quest Investment Management LLC acquired a new position in Intercontinental Exchange during the 1st quarter valued at about $2,837,000. NBT Bank N A NY acquired a new position in Intercontinental Exchange during the 2nd quarter valued at about $245,000. Alerus Financial NA acquired a new position in Intercontinental Exchange during the 2nd quarter valued at about $4,256,000. AlphaMark Advisors LLC boosted its stake in Intercontinental Exchange by 1.1% during the 2nd quarter. AlphaMark Advisors LLC now owns 67,255 shares of the financial services provider’s stock valued at $4,433,000 after purchasing an additional 728 shares during the period. Finally, Schmidt P J Investment Management Inc. boosted its stake in Intercontinental Exchange by 10.7% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 15,525 shares of the financial services provider’s stock valued at $1,023,000 after purchasing an additional 1,500 shares during the period. 89.74% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Thursday, July 13th. Royal Bank Of Canada raised shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $65.00 to $70.00 in a research note on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and set a $73.00 target price (up from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. 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 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. Intercontinental Exchange currently has a consensus rating of “Buy” and an average target price of $68.81.
Shares of Intercontinental Exchange Inc. (NYSE ICE) traded up 0.25% during mid-day trading on Thursday, hitting $66.84. 517,826 shares of the stock were exchanged. Intercontinental Exchange Inc. has a 1-year low of $52.27 and a 1-year high of $67.48. The company’s 50-day moving average is $65.38 and its 200-day moving average is $62.86. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 24.76 and a beta of 0.72.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that Intercontinental Exchange Inc. will post $2.94 earnings per share for the current fiscal year.
In other Intercontinental Exchange news, insider Charles A. Vice sold 12,500 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total transaction of $836,625.00. Following the sale, the insider now owns 382,471 shares of the company’s stock, valued at approximately $25,598,784.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles A. Vice sold 15,000 shares of the stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $66.33, for a total transaction of $994,950.00. Following the sale, the insider now directly owns 384,971 shares in the company, valued at approximately $25,535,126.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,420 shares of company stock worth $8,987,176. Insiders own 1.50% of the company’s stock.
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Intercontinental Exchange 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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