State of New Jersey Common Pension Fund D Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

State of New Jersey Common Pension Fund D lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 209,605 shares of the financial services provider’s stock after selling 334 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Intercontinental Exchange were worth $33,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after acquiring an additional 3,536,913 shares during the last quarter. CCLA Investment Management lifted its holdings in Intercontinental Exchange by 91,838.2% in the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after buying an additional 1,113,079 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth approximately $124,508,000. Janus Henderson Group PLC increased its stake in shares of Intercontinental Exchange by 589.4% during the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after buying an additional 687,817 shares during the period. Finally, James Hambro & Partners purchased a new stake in Intercontinental Exchange in the second quarter worth $93,340,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE ICE traded up $0.31 during trading hours on Friday, hitting $156.42. The company’s stock had a trading volume of 4,946,737 shares, compared to its average volume of 3,249,787. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $89.81 billion, a P/E ratio of 37.07, a price-to-earnings-growth ratio of 2.60 and a beta of 1.08. The company’s 50 day simple moving average is $161.52 and its two-hundred day simple moving average is $149.19. Intercontinental Exchange, Inc. has a 12 month low of $108.44 and a 12 month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Monday, December 16th. Intercontinental Exchange’s payout ratio is currently 42.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ICE shares. Bank of America boosted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, November 1st. Barclays cut their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group increased their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.93.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is owned by insiders.

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.