Rockland Trust Co. Increases Holdings in Intercontinental Exchange Inc. $ICE

Rockland Trust Co. increased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 13.6% during the second quarter, HoldingsChannel.com reports. The fund owned 172,830 shares of the financial services provider’s stock after acquiring an additional 20,712 shares during the quarter. Rockland Trust Co.’s holdings in Intercontinental Exchange were worth $21,277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ICE. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Intercontinental Exchange by 9.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,971 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 257 shares during the last quarter. Reinhart Partners LLC. lifted its stake in Intercontinental Exchange by 16.4% in the 2nd quarter. Reinhart Partners LLC. now owns 43,336 shares of the financial services provider’s stock valued at $5,335,000 after buying an additional 6,108 shares in the last quarter. Community Trust & Investment Co. grew its holdings in Intercontinental Exchange by 30.3% during the 2nd quarter. Community Trust & Investment Co. now owns 145,983 shares of the financial services provider’s stock valued at $17,972,000 after buying an additional 33,943 shares during the last quarter. Meriwether Wealth & Planning LLC purchased a new position in Intercontinental Exchange during the second quarter worth $494,000. Finally, Castle Rock Wealth Management LLC increased its position in Intercontinental Exchange by 6.5% during the second quarter. Castle Rock Wealth Management LLC now owns 10,037 shares of the financial services provider’s stock worth $1,272,000 after buying an additional 616 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $150.35 on Friday. The business’s fifty day moving average price is $139.52 and its 200 day moving average price is $152.97. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $84.40 billion, a P/E ratio of 21.24, a PEG ratio of 1.48 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current year.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 20,725 shares of company stock worth $3,133,148. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ICE. TD Cowen restated a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. The Goldman Sachs Group decreased their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.