State of New Jersey Common Pension Fund D Has $41.85 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,854 shares of the financial services provider’s stock after selling 2,269 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Intercontinental Exchange worth $41,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. OFI Invest Asset Management purchased a new position in shares of Intercontinental Exchange during the third quarter valued at approximately $25,000. Jones Financial Companies Lllp purchased a new position in Intercontinental Exchange during the 3rd quarter worth $26,000. Fortitude Family Office LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth $28,000. BKM Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $31,000. Finally, Rakuten Securities Inc. bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $39,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ICE. Citigroup lifted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Morgan Stanley boosted their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Barclays raised their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. UBS Group boosted their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Bank of America decreased their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.08.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded down $0.13 during trading hours on Friday, reaching $131.69. The company had a trading volume of 2,406,708 shares, compared to its average volume of 2,386,540. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The firm has a market cap of $75.41 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. The business has a fifty day simple moving average of $135.97 and a 200 day simple moving average of $125.05.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 earnings per share. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total value of $8,011,417.48. Following the sale, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the sale, the chief executive officer now owns 1,179,895 shares in the company, valued at approximately $161,893,392.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,491 shares of company stock valued at $21,454,204. 1.10% of the stock is currently owned by company insiders.

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.