First Citizens Bank & Trust Co. Has $5.79 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

First Citizens Bank & Trust Co. cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,884 shares of the financial services provider’s stock after selling 972 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Intercontinental Exchange were worth $5,794,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its stake in 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 valued at $25,000 after acquiring an additional 147 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in Intercontinental Exchange in the third quarter valued at approximately $26,000. Financial Management Professionals Inc. lifted its stake in Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Intercontinental Exchange in the third quarter valued at approximately $29,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the third quarter worth $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the sale, the general counsel now owns 44,702 shares in the company, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,795 shares of company stock worth $2,120,572. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.1 %

Shares of Intercontinental Exchange stock opened at $157.52 on Friday. The firm has a market capitalization of $90.45 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company’s fifty day moving average price is $152.98 and its two-hundred day moving average price is $155.98. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 quarter in the previous year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts expect that Intercontinental Exchange, Inc. will post 6.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Barclays reduced their price objective on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. 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 research note on Thursday, October 17th. Bank of America boosted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $175.27.

Intercontinental Exchange Company 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.