Bangor Savings Bank Has $2.12 Million Holdings in Intercontinental Exchange Inc. $ICE

Bangor Savings Bank cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 6.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,560 shares of the financial services provider’s stock after selling 814 shares during the quarter. Bangor Savings Bank’s holdings in Intercontinental Exchange were worth $2,121,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC lifted its stake in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after buying an additional 91 shares during the period. Tsfg LLC lifted its stake in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after buying an additional 103 shares during the period. Menard Financial Group LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. lifted its stake in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after buying an additional 143 shares during the period. Finally, Activest Wealth Management lifted its stake in Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays boosted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, August 1st. UBS Group boosted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Piper Sandler boosted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $194.92.

Intercontinental Exchange Trading Down 1.2%

Shares of Intercontinental Exchange stock opened at $174.02 on Friday. The stock has a fifty day simple moving average of $180.62 and a 200 day simple moving average of $174.99. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The company has a market capitalization of $99.61 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Intercontinental Exchange’s revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the transaction, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,730 shares of company stock valued at $42,171,892 in the last three months. Insiders own 1.00% of the company’s stock.

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.