State of Michigan Retirement System Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

State of Michigan Retirement System decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 239,442 shares of the financial services provider’s stock after selling 20,400 shares during the period. State of Michigan Retirement System’s holdings in Intercontinental Exchange were worth $35,679,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Mission Wealth Management LP boosted its position in Intercontinental Exchange by 1.5% during the fourth quarter. Mission Wealth Management LP now owns 11,595 shares of the financial services provider’s stock worth $1,728,000 after purchasing an additional 167 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. raised its stake in shares of Intercontinental Exchange by 0.3% during the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 438,234 shares of the financial services provider’s stock worth $65,301,000 after buying an additional 1,527 shares during the period. Quintet Private Bank Europe S.A. lifted its position in shares of Intercontinental Exchange by 165.0% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 1,354 shares of the financial services provider’s stock valued at $202,000 after buying an additional 843 shares in the last quarter. LGT Fund Management Co Ltd. lifted its position in shares of Intercontinental Exchange by 29.8% during the 4th quarter. LGT Fund Management Co Ltd. now owns 60,122 shares of the financial services provider’s stock valued at $8,959,000 after buying an additional 13,795 shares in the last quarter. Finally, LGT Group Foundation grew its stake in Intercontinental Exchange by 10.5% in the 4th quarter. LGT Group Foundation now owns 428,079 shares of the financial services provider’s stock valued at $63,788,000 after acquiring an additional 40,790 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.1 %

Shares of NYSE:ICE opened at $173.14 on Tuesday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $175.41. The stock has a market cap of $99.48 billion, a P/E ratio of 36.22, a PEG ratio of 2.10 and a beta of 1.11. The business has a fifty day moving average of $157.87 and a two-hundred day moving average of $158.93. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is presently 40.17%.

Analysts Set New Price Targets

ICE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. UBS Group lifted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Barclays raised their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Insider Activity at Intercontinental Exchange

In other news, SVP Douglas Foley sold 10,580 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $166.47, for a total value of $1,761,252.60. Following the transaction, the senior vice president now owns 21,992 shares of the company’s stock, valued at $3,661,008.24. This represents a 32.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the sale, the president now directly owns 147,274 shares of the company’s stock, valued at $25,247,181.82. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,268 shares of company stock worth $11,262,789. 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.