Retirement Systems of Alabama Cuts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Retirement Systems of Alabama decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 125,223 shares of the financial services provider’s stock after selling 1,304 shares during the period. Retirement Systems of Alabama’s holdings in Intercontinental Exchange were worth $20,116,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its position in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the period. Northwest Investment Counselors LLC acquired a new position in Intercontinental Exchange during the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. boosted its holdings in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares during the period. Fairscale Capital LLC acquired a new stake in Intercontinental Exchange in the second quarter valued at approximately $25,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Intercontinental Exchange during the third quarter valued at approximately $29,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ICE has been the subject of a number of recent analyst reports. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler upped their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Barclays raised their price target on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.07.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 4.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 468 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,901 shares of company stock valued at $1,582,542. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $155.58 on Friday. The company has a market cap of $89.33 billion, a P/E ratio of 36.87, a PEG ratio of 2.61 and a beta of 1.08. The business has a 50 day moving average of $159.90 and a two-hundred day moving average of $153.38. Intercontinental Exchange, Inc. has a 52 week low of $121.56 and a 52 week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

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.