Louisiana State Employees Retirement System Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Louisiana State Employees Retirement System lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,500 shares of the financial services provider’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Intercontinental Exchange were worth $4,449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICE. Annapolis Financial Services LLC grew its stake in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the period. Redmont Wealth Advisors LLC purchased a new position in shares of Intercontinental Exchange in the 1st quarter worth about $26,000. Scarborough Advisors LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at about $25,000. Venturi Wealth Management LLC increased its holdings in Intercontinental Exchange by 82.3% during the first quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock worth $28,000 after buying an additional 93 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new stake in Intercontinental Exchange in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE traded up $0.82 during mid-day trading on Friday, reaching $159.42. 925,327 shares of the stock traded hands, compared to its average volume of 2,458,013. The company has a market cap of $91.44 billion, a price-to-earnings ratio of 36.61, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $160.02. The firm has a fifty day moving average price of $146.81 and a 200 day moving average price of $139.05. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the business earned $1.43 earnings per share. The firm’s revenue was up 22.7% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 1,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the completion of the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the transaction, the insider now owns 14,636 shares in the company, valued at $2,174,909.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,992 shares of company stock worth $9,197,801. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of a number of research reports. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the company from $143.00 to $167.00 in a research report on Monday, July 1st. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Barclays lifted their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.93.

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.