Central Bank & Trust Co. Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Central Bank & Trust Co. decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,565 shares of the financial services provider’s stock after selling 308 shares during the quarter. Central Bank & Trust Co.’s holdings in Intercontinental Exchange were worth $733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Millennium Group LLC purchased a new stake in Intercontinental Exchange in the 2nd quarter worth $25,000. International Assets Investment Management LLC bought a new stake in shares of Intercontinental Exchange in the second quarter worth about $25,000. Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter worth about $25,000. Wolff Wiese Magana LLC boosted its stake in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in Intercontinental Exchange during the 3rd quarter valued at approximately $26,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen initiated coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Piper Sandler boosted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Price Performance

ICE opened at $154.49 on Tuesday. The company has a market capitalization of $88.70 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 2.33 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $107.40 and a 12-month high of $167.99. The business’s fifty day simple moving average is $161.86 and its 200-day simple moving average is $148.61.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.46 EPS. On average, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.13 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. Intercontinental Exchange’s dividend payout ratio is presently 42.65%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the sale, the director now directly owns 3,958 shares of the company’s stock, valued at $629,242.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 over the last ninety days. 1.10% of the stock is owned by company insiders.

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.