Employees Retirement System of Texas Cuts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Employees Retirement System of Texas decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 456,100 shares of the financial services provider's stock after selling 26,440 shares during the quarter. Employees Retirement System of Texas owned approximately 0.08% of Intercontinental Exchange worth $67,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Intercontinental Exchange by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock worth $7,782,521,000 after buying an additional 538,670 shares during the period. Geode Capital Management LLC grew its position in shares of Intercontinental Exchange by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock worth $1,765,317,000 after acquiring an additional 327,637 shares during the last quarter. Norges Bank acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $1,196,258,000. Franklin Resources Inc. raised its position in Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider's stock valued at $865,455,000 after purchasing an additional 390,332 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Intercontinental Exchange by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,940,448 shares of the financial services provider's stock worth $587,166,000 after purchasing an additional 11,767 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now directly owns 155,174 shares of the company's stock, valued at approximately $25,855,091.88. The trade was a 9.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,563 shares of company stock valued at $10,998,990 in the last ninety days. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. UBS Group boosted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Barclays boosted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average price target of $182.47.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded up $0.73 during trading on Friday, hitting $155.92. 2,786,452 shares of the stock were exchanged, compared to its average volume of 2,919,019. The company has a fifty day moving average price of $167.80 and a two-hundred day moving average price of $160.52. The company has a market cap of $89.57 billion, a PE ratio of 32.62, a P/E/G ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $177.45. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.23%. Intercontinental Exchange's dividend payout ratio (DPR) is 40.17%.

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.