Public Employees Retirement System of Ohio Takes Position in Intercontinental Exchange Inc. $ICE

Public Employees Retirement System of Ohio purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 209,440 shares of the financial services provider’s stock, valued at approximately $25,784,000.

Other hedge funds have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP raised its stake in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at approximately $6,245,085,000. State Street Corp raised its position in Intercontinental Exchange by 3.4% in the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after purchasing an additional 837,208 shares during the last quarter. Morgan Stanley raised its position in Intercontinental Exchange by 1.0% in the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after purchasing an additional 158,450 shares during the last quarter. Finally, Norges Bank acquired a new position in Intercontinental Exchange during the 4th quarter worth $1,418,228,000. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of a number of recent research reports. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. TD Cowen reaffirmed a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Morgan Stanley dropped their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Finally, Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Insider Activity

In related news, Director Martha A. Tirinnanzi sold 1,340 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total transaction of $215,954.40. Following the transaction, the director owned 3,747 shares of the company’s stock, valued at $603,866.52. This trade represents a 26.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 4,574 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the transaction, the general counsel owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. This represents a 9.60% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 23,141 shares of company stock valued at $3,554,192. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $162.46 on Friday. The firm has a fifty day moving average of $144.90 and a two-hundred day moving average of $151.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $91.20 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $177.76.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.81 earnings per share. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Intercontinental Exchange Company Profile

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.