First National Bank of Mount Dora Trust Investment Services Reduces Stock Position in Intercontinental Exchange Inc. $ICE

First National Bank of Mount Dora Trust Investment Services cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.9% in the second quarter, Holdings Channel.com reports. The firm owned 26,849 shares of the financial services provider’s stock after selling 233 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Intercontinental Exchange were worth $4,926,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ICE. Brighton Jones LLC grew its position in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares during the period. GAMMA Investing LLC grew its position in Intercontinental Exchange by 42.0% in the first quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider’s stock worth $2,265,000 after acquiring an additional 3,883 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Intercontinental Exchange by 12.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,169 shares of the financial services provider’s stock worth $6,067,000 after acquiring an additional 3,760 shares during the period. Exchange Traded Concepts LLC grew its position in Intercontinental Exchange by 66.9% in the first quarter. Exchange Traded Concepts LLC now owns 584 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 234 shares during the period. Finally, Sowell Financial Services LLC purchased a new position in Intercontinental Exchange in the first quarter worth approximately $949,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ICE shares. Barclays reiterated an “overweight” rating and issued a $201.00 price objective (down from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research note on Monday. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $199.60.

Intercontinental Exchange Stock Down 2.6%

Shares of NYSE ICE opened at $153.29 on Friday. The stock has a market cap of $87.75 billion, a P/E ratio of 29.42, a PEG ratio of 2.20 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 Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The business’s fifty day simple moving average is $171.52 and its 200-day simple moving average is $173.64.

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

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, 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 filing with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This trade represents a 13.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,956 shares of company stock valued at $43,789,542 over the last ninety days. Company insiders own 1.00% of the company’s stock.

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.