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

Central Bank & Trust Co. cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,708 shares of the financial services provider’s stock after selling 81 shares during the quarter. Central Bank & Trust Co.’s holdings in Intercontinental Exchange were worth $640,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $25,000. REAP Financial Group LLC raised its position in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 91 shares during the period. Menard Financial Group LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $29,000. Redwood Park Advisors LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $33,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $34,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Bank of America cut their target price on 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 upped their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Barclays increased their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $188.46.

Insiders Place Their Bets

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,101,705 shares in the company, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the transaction, the general counsel now owns 48,480 shares in the company, valued at $8,683,737.60. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 226,354 shares of company stock valued at $40,512,695. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $178.70 on Friday. Intercontinental Exchange, Inc. has a twelve month low of $132.93 and a twelve month high of $180.89. 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 market capitalization of $102.51 billion, a P/E ratio of 37.38, a PEG ratio of 2.10 and a beta of 1.12. The stock’s 50 day moving average is $168.60 and its 200 day moving average is $163.46.

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

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.07%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

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.