Private Trust Co. NA Decreases Position in Intercontinental Exchange Inc. $ICE

Private Trust Co. NA cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,713 shares of the financial services provider’s stock after selling 123 shares during the quarter. Private Trust Co. NA’s holdings in Intercontinental Exchange were worth $498,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock valued at $9,132,211,000 after buying an additional 712,179 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares in the last quarter. Amundi lifted its stake in Intercontinental Exchange by 14.7% in the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after purchasing an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in Intercontinental Exchange by 0.5% in the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock worth $1,068,193,000 after purchasing an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at $10,365,331.20. This trade represents a 13.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 240,956 shares of company stock worth $43,789,542 in the last three months. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Up 0.1%

Shares of NYSE ICE opened at $153.52 on Monday. The company has a 50 day simple moving average of $170.86 and a 200-day simple moving average of $173.58. The company has a market capitalization of $87.88 billion, a P/E ratio of 29.47, a P/E/G ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the firm earned $1.52 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ICE shares. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Morgan Stanley decreased their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. UBS Group raised their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Piper Sandler raised their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.60.

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.