Horizon Bancorp Inc. IN Lowers Stock Position in Intercontinental Exchange Inc. (NYSE:ICE)

Horizon Bancorp Inc. IN lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 30.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 874 shares of the financial services provider’s stock after selling 387 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Intercontinental Exchange were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. REAP Financial Group LLC boosted its stake in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 91 shares in the last quarter. Menard Financial Group LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $29,000. Rakuten Securities Inc. boosted its stake in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $31,000. Finally, Redwood Park Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares of the company’s stock, valued at $3,396,876. The trade was a 10.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO James W. Namkung sold 612 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer now directly owns 13,220 shares of the company’s stock, valued at $2,379,600. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 227,954 shares of company stock worth $40,796,663. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Barclays boosted their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Bank of America cut their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.46.

Intercontinental Exchange Trading Up 0.6%

Shares of ICE opened at $180.85 on Wednesday. The stock has a fifty day moving average of $173.59 and a two-hundred day moving average of $165.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $103.74 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12. Intercontinental Exchange Inc. has a fifty-two week low of $136.21 and a fifty-two week high of $181.65.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. Intercontinental Exchange’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. As a group, analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. 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.