Community Trust & Investment Co. Has $12.97 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Community Trust & Investment Co. trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,441 shares of the financial services provider’s stock after selling 937 shares during the quarter. Intercontinental Exchange comprises approximately 1.2% of Community Trust & Investment Co.’s holdings, making the stock its 29th largest position. Community Trust & Investment Co.’s holdings in Intercontinental Exchange were worth $12,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. MADDEN SECURITIES Corp bought a new position in Intercontinental Exchange during the fourth quarter worth $26,000. Cowa LLC acquired a new position in Intercontinental Exchange during the 3rd quarter valued at about $27,000. IMA Wealth Inc. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $28,000. MinichMacGregor Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $32,000. Finally, WASHINGTON TRUST Co increased its stake in shares of Intercontinental Exchange by 173.9% in the 3rd quarter. WASHINGTON TRUST Co now owns 315 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded down $2.23 during mid-day trading on Friday, hitting $97.00. 6,093,991 shares of the company’s stock traded hands, compared to its average volume of 2,777,373. The firm has a 50 day simple moving average of $105.23 and a two-hundred day simple moving average of $101.44. Intercontinental Exchange, Inc. has a fifty-two week low of $88.60 and a fifty-two week high of $137.40. The stock has a market cap of $54.21 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 3.39 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.05 and a quick ratio of 1.05.

Intercontinental Exchange (NYSE:ICE – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.01). Intercontinental Exchange had a net margin of 15.01% and a return on equity of 13.11%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business earned $1.34 EPS. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, research analysts expect that Intercontinental Exchange, Inc. will post 5.4 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.38. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 59.14%.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total transaction of $167,680.00. Following the completion of the sale, the senior vice president now owns 21,481 shares of the company’s stock, valued at $2,251,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jeffrey C. Sprecher sold 81,827 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total value of $8,511,644.54. Following the transaction, the chief executive officer now owns 1,203,104 shares in the company, valued at $125,146,878.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total value of $167,680.00. Following the completion of the transaction, the senior vice president now owns 21,481 shares in the company, valued at approximately $2,251,208.80. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ICE shares. Citigroup increased their target price on Intercontinental Exchange from $110.00 to $117.00 and gave the stock a “neutral” rating in a research note on Friday, February 3rd. Morgan Stanley increased their target price on Intercontinental Exchange from $116.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 11th. StockNews.com began coverage on Intercontinental Exchange in a research note on Thursday. They set a “hold” rating for the company. Raymond James decreased their price target on shares of Intercontinental Exchange from $130.00 to $126.00 and set a “strong-buy” rating for the company in a research note on Friday, February 3rd. Finally, Rosenblatt Securities raised their price target on shares of Intercontinental Exchange from $164.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.91.

About Intercontinental Exchange

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Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.