Essex Savings Bank Has $238,000 Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Essex Savings Bank lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,380 shares of the financial services provider’s stock after selling 70 shares during the period. Essex Savings Bank’s holdings in Intercontinental Exchange were worth $238,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of 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 worth $7,782,521,000 after purchasing an additional 538,670 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Intercontinental Exchange by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after purchasing an additional 327,637 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares during the last quarter. Norges Bank acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $1,196,258,000. Finally, Northern Trust Corp lifted its position in shares of Intercontinental Exchange by 9.7% during the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock worth $1,105,953,000 after purchasing an additional 655,247 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley upped their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Barclays upped their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $188.46.

Insider Activity

In related news, Director Martha A. Tirinnanzi sold 397 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total transaction of $70,312.67. Following the sale, the director now directly owns 4,526 shares in the company, valued at $801,599.86. This represents a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the sale, the chief executive officer now owns 2,101,705 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 227,954 shares of company stock worth $40,796,663. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Down 0.8%

ICE stock opened at $179.57 on Thursday. Intercontinental Exchange Inc. has a 1-year low of $134.78 and a 1-year high of $181.65. The firm has a market cap of $103.00 billion, a P/E ratio of 37.18, a P/E/G ratio of 1.96 and a beta of 1.12. The business’s 50 day moving average is $171.83 and its 200-day moving average is $164.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the company posted $1.48 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

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.