US Bancorp DE Sells 15,420 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

US Bancorp DE cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,239 shares of the financial services provider’s stock after selling 15,420 shares during the quarter. US Bancorp DE’s holdings in Intercontinental Exchange were worth $20,785,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pettyjohn Wood & White Inc. grew its position in Intercontinental Exchange by 0.5% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after buying an additional 75 shares in the last quarter. Busey Bank increased its position in shares of Intercontinental Exchange by 3.4% in the first quarter. Busey Bank now owns 2,439 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 80 shares during the period. Western Pacific Wealth Management LP raised its stake in Intercontinental Exchange by 4.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 80 shares in the last quarter. Spire Wealth Management lifted its position in Intercontinental Exchange by 16.4% during the first quarter. Spire Wealth Management now owns 582 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 82 shares during the period. Finally, PDS Planning Inc grew its stake in Intercontinental Exchange by 2.8% during the first quarter. PDS Planning Inc now owns 3,092 shares of the financial services provider’s stock worth $425,000 after buying an additional 83 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Down 0.1 %

Shares of Intercontinental Exchange stock traded down $0.19 during trading on Wednesday, hitting $148.73. The company’s stock had a trading volume of 1,143,314 shares, compared to its average volume of 2,379,685. The stock has a market cap of $85.31 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 2.71 and a beta of 1.06. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $149.44. The stock has a 50-day moving average price of $137.53 and a two-hundred day moving average price of $134.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company posted $1.41 EPS. The business’s revenue was up 20.8% on a year-over-year basis. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Bank of America cut their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Keefe, Bruyette & Woods dropped their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Two investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.07.

Insider Buying and Selling

In other news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the acquisition, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of Intercontinental Exchange stock in a transaction on Thursday, April 25th. The stock was bought at an average price of $0.87 per share, with a total value of $305,265.60. Following the completion of the acquisition, the insider now directly owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The disclosure for this purchase can be found here. Insiders sold 63,290 shares of company stock valued at $8,937,674 over the last quarter. 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.