First County Bank CT Sells 135 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

First County Bank CT decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,420 shares of the financial services provider’s stock after selling 135 shares during the period. First County Bank CT’s holdings in Intercontinental Exchange were worth $417,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Kestra Private Wealth Services LLC lifted its holdings in Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after acquiring an additional 4,787 shares during the period. Governors Lane LP increased its position in shares of Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock valued at $18,939,000 after purchasing an additional 59,500 shares during the last quarter. Avantra Family Wealth Inc. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $702,000. National Pension Service raised its position in Intercontinental Exchange by 19.1% in the fourth quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock worth $184,644,000 after acquiring an additional 198,311 shares during the period. Finally, Hahn Capital Management LLC raised its holdings in shares of Intercontinental Exchange by 69.8% in the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider’s stock worth $10,600,000 after purchasing an additional 29,233 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ICE shares. Barclays raised their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Bank of America dropped their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Finally, UBS Group increased their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $188.46.

Intercontinental Exchange Trading Up 0.4%

NYSE:ICE opened at $178.50 on Friday. The firm has a market capitalization of $102.39 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.10 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $168.00 and a 200 day moving average of $162.46. Intercontinental Exchange, Inc. has a 52 week low of $131.79 and a 52 week high of $179.44.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 earnings per share. On average, research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.08%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,630 shares of the company’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the transaction, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martha A. Tirinnanzi sold 397 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the transaction, the director now owns 4,526 shares in the company, valued at $801,599.86. This represents a 8.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,579 shares of company stock worth $584,818 over the last quarter. 1.00% of the stock is owned by corporate insiders.

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.