State of New Jersey Common Pension Fund D Sells 115,915 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

State of New Jersey Common Pension Fund D decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 35.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,939 shares of the financial services provider’s stock after selling 115,915 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Intercontinental Exchange were worth $28,739,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. American National Bank raised its holdings in shares of Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 69 shares during the last quarter. Catalyst Financial Partners LLC grew its position in Intercontinental Exchange by 3.4% in the second quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 73 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Intercontinental Exchange by 1.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock valued at $559,000 after buying an additional 74 shares during the last quarter. Founders Financial Securities LLC lifted its position in Intercontinental Exchange by 4.8% during the 2nd quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock worth $219,000 after buying an additional 74 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. boosted its stake in shares of Intercontinental Exchange by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after buying an additional 75 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $161.14 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $92.43 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 2.82 and a beta of 1.08. The business has a fifty day simple moving average of $153.79 and a 200 day simple moving average of $141.81. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $1.43 earnings per share. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. Research analysts expect that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred 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 sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold a total of 67,096 shares of company stock worth $9,593,983 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ICE. Barclays lifted their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Citigroup upped their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group raised shares of 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 note on Monday, July 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Finally, Argus reissued a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.93.

About Intercontinental Exchange

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.