California State Teachers Retirement System Decreases Position in Intercontinental Exchange Inc. $ICE

California State Teachers Retirement System trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 898,034 shares of the financial services provider’s stock after selling 24,403 shares during the period. California State Teachers Retirement System’s holdings in Intercontinental Exchange were worth $141,243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ICE. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $25,000. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Dorato Capital Management purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $28,000. Finally, Steph & Co. increased its stake in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares during the period. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,425 shares of company stock valued at $2,046,324 in the last ninety days. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $154.69 on Thursday. The firm has a 50 day moving average price of $139.39 and a 200-day moving average price of $153.76. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The firm has a market capitalization of $87.48 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 1.59 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.72 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.01 EPS for the current fiscal year.

Analyst Ratings Changes

ICE has been the subject of several analyst reports. TD Cowen dropped their price target on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. UBS Group dropped their target price on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Barclays reduced their price target on Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Finally, Morgan Stanley lowered their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. One research 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 company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $181.58.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.