State of Michigan Retirement System Has $35.79 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

State of Michigan Retirement System boosted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 260,442 shares of the financial services provider’s stock after purchasing an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in Intercontinental Exchange were worth $35,793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dash Acquisitions Inc. raised its stake in shares of Intercontinental Exchange by 3.4% in the first quarter. Dash Acquisitions Inc. now owns 56,721 shares of the financial services provider’s stock worth $7,416,000 after purchasing an additional 1,840 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Intercontinental Exchange by 2.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,462 shares of the financial services provider’s stock valued at $476,000 after buying an additional 89 shares during the last quarter. Woodmont Investment Counsel LLC purchased a new stake in Intercontinental Exchange in the 1st quarter valued at $245,000. Allspring Global Investments Holdings LLC lifted its stake in Intercontinental Exchange by 3.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,279,484 shares of the financial services provider’s stock valued at $175,839,000 after acquiring an additional 43,499 shares in the last quarter. Finally, Oak Thistle LLC purchased a new position in Intercontinental Exchange during the 1st quarter worth $866,000. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, May 31st. Argus reaffirmed a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Citigroup increased their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Morgan Stanley boosted their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their target price for the company from $143.00 to $167.00 in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.29.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE traded up $3.89 during midday trading on Tuesday, hitting $140.82. The company’s stock had a trading volume of 3,303,060 shares, compared to its average volume of 2,356,674. The firm has a market capitalization of $80.77 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 2.55 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average price of $134.62 and a 200 day moving average price of $133.00. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $140.98.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 5.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now directly owns 46,815 shares in the company, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,894 shares of company stock valued at $8,620,792. Corporate insiders own 1.10% of the company’s stock.

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.