CoreFirst Bank & Trust Makes New $388,000 Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

CoreFirst Bank & Trust purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,605 shares of the financial services provider’s stock, valued at approximately $388,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock valued at $7,782,521,000 after purchasing an additional 538,670 shares in the last quarter. State Street Corp increased its position in shares of Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after acquiring an additional 281,503 shares in the last quarter. Geode Capital Management LLC raised its holdings in Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after acquiring an additional 169,922 shares during the last quarter. FMR LLC lifted its position in Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Intercontinental Exchange by 8.0% during 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. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays increased their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $175.27 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50-day simple moving average of $164.92 and a two-hundred day simple moving average of $160.16. The firm has a market capitalization of $100.70 billion, a PE ratio of 36.67, a P/E/G ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $176.16.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (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%. Analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.10%. Intercontinental Exchange’s payout ratio is 40.17%.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 10,580 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the completion of the sale, the senior vice president now owns 21,992 shares in the company, valued at approximately $3,661,008.24. This trade represents a 32.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the sale, the president now directly owns 147,274 shares in the company, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange 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.