Public Sector Pension Investment Board Sells 180,700 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Public Sector Pension Investment Board lowered its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 64.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,183 shares of the financial services provider’s stock after selling 180,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Intercontinental Exchange were worth $16,093,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after purchasing an additional 122,169 shares in the last quarter. BDF Gestion bought a new position in Intercontinental Exchange in the 2nd quarter worth $2,849,000. Burke & Herbert Bank & Trust Co. bought a new position in Intercontinental Exchange in the 2nd quarter worth $1,366,000. Blue Trust Inc. raised its holdings in Intercontinental Exchange by 312.4% in the 2nd quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock worth $712,000 after acquiring an additional 3,924 shares during the period. Finally, GDS Wealth Management raised its holdings in Intercontinental Exchange by 5.3% in the 3rd quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after acquiring an additional 5,226 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $161.19 on Friday. The firm has a market cap of $92.55 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 2.66 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12 month low of $111.82 and a 12 month 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. The company’s 50-day moving average price is $160.59 and its two-hundred day moving average price is $151.66.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays dropped their target price on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday. Bank of America lifted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, TD Cowen began coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,696 shares of company stock valued at $1,554,559. Insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

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.