California Public Employees Retirement System Has $326.65 Million Holdings in Intercontinental Exchange Inc. $ICE

California Public Employees Retirement System decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 19.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,780,406 shares of the financial services provider’s stock after selling 426,854 shares during the period. California Public Employees Retirement System owned about 0.31% of Intercontinental Exchange worth $326,651,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cerity Partners LLC lifted its position in Intercontinental Exchange by 5.7% in the 2nd quarter. Cerity Partners LLC now owns 266,446 shares of the financial services provider’s stock worth $48,885,000 after buying an additional 14,401 shares in the last quarter. Morton Community Bank increased its stake in shares of Intercontinental Exchange by 2.6% in the second quarter. Morton Community Bank now owns 25,213 shares of the financial services provider’s stock worth $4,626,000 after acquiring an additional 640 shares during the last quarter. Avestar Capital LLC raised its holdings in shares of Intercontinental Exchange by 20.0% during the second quarter. Avestar Capital LLC now owns 4,122 shares of the financial services provider’s stock worth $756,000 after acquiring an additional 686 shares in the last quarter. Cresset Asset Management LLC boosted its position in Intercontinental Exchange by 7.5% during the second quarter. Cresset Asset Management LLC now owns 138,015 shares of the financial services provider’s stock valued at $25,322,000 after purchasing an additional 9,661 shares during the last quarter. Finally, Tema Etfs LLC grew its stake in Intercontinental Exchange by 7.7% in the second quarter. Tema Etfs LLC now owns 11,663 shares of the financial services provider’s stock valued at $2,140,000 after purchasing an additional 838 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at $10,365,331.20. The trade was a 13.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer owned 16,624 shares in the company, valued at $2,859,992.96. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 168,044 shares of company stock valued at $25,832,095 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a report on Monday, October 13th. TD Cowen reduced their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday. Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, October 31st. Finally, Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Buy” and an average price target of $194.70.

Intercontinental Exchange Stock Down 0.9%

Intercontinental Exchange stock opened at $157.63 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The firm has a fifty day moving average price of $155.39 and a two-hundred day moving average price of $170.71. The firm has a market cap of $89.88 billion, a price-to-earnings ratio of 28.71, a P/E/G ratio of 2.40 and a beta of 1.05.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company posted $1.55 earnings per share. Intercontinental Exchange’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Company 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.