Retirement Systems of Alabama Sells 380 Shares of Intercontinental Exchange Inc. $ICE

Retirement Systems of Alabama reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 123,089 shares of the financial services provider’s stock after selling 380 shares during the period. Retirement Systems of Alabama’s holdings in Intercontinental Exchange were worth $22,583,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its stake in Intercontinental Exchange by 1.1% in the 2nd quarter. Assetmark Inc. now owns 24,111 shares of the financial services provider’s stock valued at $4,424,000 after acquiring an additional 262 shares during the period. HBK Sorce Advisory LLC raised its stake in Intercontinental Exchange by 4.0% in the 2nd quarter. HBK Sorce Advisory LLC now owns 2,109 shares of the financial services provider’s stock valued at $387,000 after acquiring an additional 82 shares during the period. Premier Path Wealth Partners LLC raised its stake in Intercontinental Exchange by 18.6% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 5,694 shares of the financial services provider’s stock valued at $1,045,000 after acquiring an additional 892 shares during the period. Arkadios Wealth Advisors bought a new stake in Intercontinental Exchange in the 2nd quarter valued at about $313,000. Finally, World Investment Advisors raised its stake in Intercontinental Exchange by 23.8% in the 2nd quarter. World Investment Advisors now owns 13,449 shares of the financial services provider’s stock valued at $2,467,000 after acquiring an additional 2,588 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the transaction, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 240,162 shares of company stock valued at $43,642,652 in the last 90 days. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Down 1.6%

ICE stock opened at $146.10 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $165.55 and its 200 day moving average is $173.40. The stock has a market cap of $83.63 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ICE shares. JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday. UBS Group reduced their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley reduced their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Finally, Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $191.82.

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.