New York State Teachers Retirement System Trims Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

New York State Teachers Retirement System cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 463,188 shares of the financial services provider’s stock after selling 17,822 shares during the period. New York State Teachers Retirement System owned 0.08% of Intercontinental Exchange worth $74,407,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in 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 worth $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Intercontinental Exchange by 4.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock worth $725,657,000 after buying an additional 218,516 shares during the period. Mawer Investment Management Ltd. grew its holdings in Intercontinental Exchange by 0.6% in the first quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock valued at $645,434,000 after purchasing an additional 28,771 shares during the last quarter. Legal & General Group Plc increased its position in Intercontinental Exchange by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after purchasing an additional 191,763 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Intercontinental Exchange by 10.4% during the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock valued at $413,298,000 after buying an additional 284,664 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.2 %

Shares of NYSE:ICE traded up $0.37 during midday trading on Wednesday, hitting $167.09. 138,861 shares of the stock were exchanged, compared to its average volume of 2,498,115. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 52-week low of $104.91 and a 52-week high of $167.64. The business’s fifty day simple moving average is $161.97 and its two-hundred day simple moving average is $147.84. The company has a market capitalization of $95.93 billion, a PE ratio of 41.27, a P/E/G ratio of 2.50 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm posted $1.43 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, research analysts predict that Intercontinental Exchange, Inc. will post 6.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ICE shares. Morgan Stanley lifted their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Finally, Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.93.

Insider Buying and Selling at Intercontinental Exchange

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