Keybank National Association OH Sells 4,840 Shares of Intercontinental Exchange Inc. $ICE

Keybank National Association OH lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 359,034 shares of the financial services provider’s stock after selling 4,840 shares during the period. Keybank National Association OH owned approximately 0.06% of Intercontinental Exchange worth $65,872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock valued at $9,132,211,000 after purchasing an additional 712,179 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Intercontinental Exchange by 491.3% in the first 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 purchasing an additional 5,345,388 shares during the period. Amundi raised its position in shares of Intercontinental Exchange by 14.7% in the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after purchasing an additional 810,938 shares during the period. Independent Franchise Partners LLP raised its position in shares of Intercontinental Exchange by 0.5% in the first 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 purchasing an additional 31,588 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Intercontinental Exchange by 113.9% in the first 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 purchasing an additional 3,165,381 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the sale, the chief technology officer owned 65,240 shares in the company, valued at $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the sale, the chief executive officer owned 1,951,705 shares in the company, valued at $357,337,668.45. The trade was a 7.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 240,162 shares of company stock valued at $43,642,652 over the last quarter. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ICE shares. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research report on Monday, October 13th. Barclays reaffirmed an “overweight” rating and set a $201.00 price objective (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.60.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $150.26 on Thursday. 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 Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The stock has a market cap of $86.01 billion, a P/E ratio of 28.84, a P/E/G ratio of 2.20 and a beta of 1.08. The company has a 50 day moving average of $166.85 and a 200 day moving average of $173.67.

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

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.