Chevy Chase Trust Holdings LLC Sells 2,602 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Chevy Chase Trust Holdings LLC cut its position in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,219 shares of the financial services provider’s stock after selling 2,602 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of Intercontinental Exchange worth $43,595,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at $25,000. Annapolis Financial Services LLC grew its holdings in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after buying an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Intercontinental Exchange during the first quarter valued at about $26,000. Fortitude Family Office LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $28,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.9 %

Shares of Intercontinental Exchange stock traded up $1.32 during trading on Wednesday, reaching $143.78. The company’s stock had a trading volume of 1,234,375 shares, compared to its average volume of 2,343,669. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $143.80. The firm’s 50-day moving average is $135.81 and its two-hundred day moving average is $133.74. The company has a market cap of $82.47 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 2.63 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company’s revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was purchased at an average price of $0.87 per share, with a total value of $305,265.60. Following the completion of the purchase, the insider now owns 649,934 shares in the company, valued at approximately $565,442.58. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Judith A. Sprieser sold 2,267 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total value of $305,070.19. Following the sale, the director now directly owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the stock in a transaction on Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, with a total value of $305,265.60. Following the transaction, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The disclosure for this purchase can be found here. Insiders sold 4,506 shares of company stock worth $609,374 in the last ninety days. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Citigroup upped their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday. Rosenblatt Securities reissued a “buy” rating and set a $164.00 price objective on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Barclays lowered their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, Morgan Stanley boosted their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $151.43.

View Our Latest Stock Report on ICE

Intercontinental Exchange Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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