7,262 Intercontinental Exchange Inc. $ICE Shares Acquired by Rockland Trust Co.

Rockland Trust Co. lifted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 180,092 shares of the financial services provider’s stock after purchasing an additional 7,262 shares during the period. Intercontinental Exchange comprises approximately 1.0% of Rockland Trust Co.’s holdings, making the stock its 25th biggest position. Rockland Trust Co.’s holdings in Intercontinental Exchange were worth $27,379,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Intercontinental Exchange during the second quarter valued at about $6,245,085,000. USS Investment Management Ltd increased its position in Intercontinental Exchange by 37.2% in the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after buying an additional 256,851 shares in the last quarter. Lombard Odier Asset Management Europe Ltd bought a new position in shares of Intercontinental Exchange in the first quarter worth about $11,498,000. Swedbank AB lifted its position in shares of Intercontinental Exchange by 7.6% during the 1st quarter. Swedbank AB now owns 3,795,369 shares of the financial services provider’s stock valued at $596,936,000 after buying an additional 268,254 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich lifted its position in shares of Intercontinental Exchange by 35.5% during the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 331,547 shares of the financial services provider’s stock valued at $40,817,000 after buying an additional 86,897 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares in the company, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,179 shares of company stock valued at $6,473,715. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ICE shares. The Goldman Sachs Group reduced their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Wells Fargo & Company initiated coverage on Intercontinental Exchange in a research note on Friday. They issued an “underweight” rating and a $159.00 price target for the company. Morgan Stanley decreased their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Finally, Wall Street Zen downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $181.77.

Intercontinental Exchange Trading Up 1.0%

NYSE ICE traded up $1.44 during trading hours on Monday, hitting $151.59. 895,288 shares of the company were exchanged, compared to its average volume of 3,825,024. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $176.05. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $155.65 and a 200 day moving average price of $150.91. The stock has a market cap of $85.10 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.45 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $1.81 EPS. Analysts forecast that Intercontinental Exchange Inc. will post 8.12 earnings per share for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.