Bangor Savings Bank Sells 430 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Bangor Savings Bank lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,374 shares of the financial services provider’s stock after selling 430 shares during the quarter. Bangor Savings Bank’s holdings in Intercontinental Exchange were worth $2,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ICE. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $25,000. REAP Financial Group LLC raised its holdings in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 91 shares during the period. Menard Financial Group LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $29,000. Redwood Park Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $33,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $34,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel now directly owns 48,480 shares in the company, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the transaction, the chief executive officer now owns 2,101,705 shares of the company’s stock, valued at $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,354 shares of company stock worth $40,512,695 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ICE. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Bank of America lowered their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Barclays lifted their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $188.46.

Intercontinental Exchange Stock Up 0.1%

ICE opened at $178.70 on Friday. The company has a fifty day moving average price of $168.60 and a 200-day moving average price of $163.46. The firm has a market capitalization of $102.51 billion, a P/E ratio of 37.38, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a one year low of $132.93 and a one year high of $180.89.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 EPS. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 39.75%.

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.