Citizens & Northern Corp Decreases Stock Position in Intercontinental Exchange Inc. $ICE

Citizens & Northern Corp decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 21.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,585 shares of the financial services provider’s stock after selling 2,409 shares during the period. Citizens & Northern Corp’s holdings in Intercontinental Exchange were worth $1,575,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Tsfg LLC grew its holdings in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after buying an additional 103 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $28,000. Activest Wealth Management boosted its position in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 162 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange during the 1st quarter valued at approximately $30,000. Finally, Hilltop National Bank purchased a new position in shares of Intercontinental Exchange in the second quarter valued at $31,000. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

ICE has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Piper Sandler lifted their price target 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. Barclays reissued 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. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Finally, Morgan Stanley cut their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $198.60.

Intercontinental Exchange Trading Up 1.0%

Shares of ICE opened at $156.78 on Wednesday. The firm has a market capitalization of $89.74 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.17 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a 50-day moving average of $169.72 and a 200 day moving average of $173.45.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm earned $1.52 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 939 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares in the company, valued at approximately $2,859,992.96. This represents a 5.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 25,796 shares in the company, valued at $4,530,293.52. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 240,956 shares of company stock worth $43,789,542 over the last quarter. Insiders own 1.00% of the company’s stock.

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.