Atlantic Union Bankshares Corp Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Atlantic Union Bankshares Corp lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,007 shares of the financial services provider’s stock after selling 116 shares during the period. Atlantic Union Bankshares Corp’s holdings in Intercontinental Exchange were worth $551,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ICE. Scarborough Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $25,000. Jones Financial Companies Lllp acquired a new stake in Intercontinental Exchange during the third quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. acquired a new position in Intercontinental Exchange in the 4th quarter valued at $28,000. Finally, Altshuler Shaham Ltd purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Bank of America dropped their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Barclays decreased their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Citigroup upped their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.29.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,267 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total value of $305,070.19. Following the transaction, the director now owns 28,849 shares in the company, valued at $3,882,209.93. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of Intercontinental Exchange stock in a transaction on Thursday, April 25th. The shares were purchased at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the purchase, the insider now directly owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,267 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the completion of the sale, the director now directly owns 28,849 shares of the company’s stock, valued at approximately $3,882,209.93. The disclosure for this sale can be found here. In the last three months, insiders sold 62,894 shares of company stock valued at $8,620,792. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Down 0.4 %

Shares of NYSE ICE traded down $0.58 on Friday, hitting $136.89. The company had a trading volume of 4,040,390 shares, compared to its average volume of 2,348,661. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $140.43. The firm has a market capitalization of $78.52 billion, a P/E ratio of 31.40, a PEG ratio of 2.56 and a beta of 1.06. The business has a 50 day moving average of $134.52 and a two-hundred day moving average of $132.72.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. Intercontinental Exchange’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the company earned $1.41 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Intercontinental Exchange 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.