Fulton Bank N.A. Grows Stock Holdings in Intercontinental Exchange Inc. $ICE

Fulton Bank N.A. grew its position in Intercontinental Exchange Inc. (NYSE:ICE) by 53.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,762 shares of the financial services provider’s stock after buying an additional 3,392 shares during the quarter. Fulton Bank N.A.’s holdings in Intercontinental Exchange were worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. Holos Integrated Wealth LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at about $28,000. Private Wealth Management Group LLC increased its stake in Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares during the period. Knuff & Co LLC lifted its position in shares of Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Caitlin John LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter worth about $32,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Intercontinental Exchange by 128.6% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ICE. Morgan Stanley set a $183.00 price objective on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group restated a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Monday, February 9th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, Barclays set a $193.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $194.73.

Insider Activity

In other news, CTO Mayur Kapani sold 15,213 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total value of $2,358,319.26. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,055,992.38. This represents a 19.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the sale, the insider directly owned 14,266 shares in the company, valued at $2,194,396.12. This trade represents a 44.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 348,418 shares of company stock valued at $54,196,631. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Down 0.8%

ICE stock opened at $157.10 on Tuesday. The company’s 50 day moving average price is $163.83 and its 200 day moving average price is $161.39. The firm has a market capitalization of $89.22 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.71 and a beta of 1.03. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is 36.05%.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.