Citizens National Bank Trust Department Sells 1,080 Shares of Intercontinental Exchange Inc. $ICE

Citizens National Bank Trust Department cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,203 shares of the financial services provider’s stock after selling 1,080 shares during the quarter. Citizens National Bank Trust Department’s holdings in Intercontinental Exchange were worth $2,606,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC boosted its stake in shares of Intercontinental Exchange by 1.4% during the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 58 shares during the period. RB Capital Management LLC lifted its holdings in Intercontinental Exchange by 1.3% during the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after buying an additional 59 shares in the last quarter. Chemistry Wealth Management LLC boosted its position in Intercontinental Exchange by 0.8% in the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 60 shares during the period. Institute for Wealth Management LLC. grew its stake in Intercontinental Exchange by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock worth $597,000 after acquiring an additional 60 shares in the last quarter. Finally, Fielder Capital Group LLC grew its stake in Intercontinental Exchange by 2.2% in the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 61 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 1.7%

Shares of NYSE ICE opened at $161.76 on Wednesday. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The stock’s fifty day simple moving average is $175.60 and its two-hundred day simple moving average is $174.47. The stock has a market capitalization of $92.60 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

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, topping 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 firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business posted $1.52 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ICE. Barclays lifted their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. UBS Group lifted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Saturday, September 27th. Finally, Piper Sandler upped their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $198.20.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel owned 46,293 shares of the company’s stock, valued at $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is currently owned by corporate insiders.

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.