Intercontinental Exchange Inc. $ICE Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,932 shares of the financial services provider’s stock after selling 431 shares during the quarter. Independence Bank of Kentucky’s holdings in Intercontinental Exchange were worth $3,107,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ICE. Vanguard Group Inc. boosted its stake in shares of 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 during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 valued at $1,109,780,000 after buying an additional 5,345,388 shares during the period. Amundi boosted its stake in shares of Intercontinental Exchange by 14.7% in the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after buying an additional 810,938 shares during the period. Independent Franchise Partners LLP boosted its stake in shares of 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 valued at $1,068,193,000 after buying an additional 31,588 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of 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 valued at $1,025,230,000 after buying an additional 3,165,381 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares in the company, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the transaction, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 231,669 shares of company stock valued at $42,333,438 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $167.69 on Monday. The stock has a 50 day moving average price of $178.30 and a 200 day moving average price of $174.98. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $95.99 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Barclays lifted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.36.

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.