First County Bank CT Cuts Stock Holdings in Intercontinental Exchange Inc. $ICE

First County Bank CT cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 17.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,989 shares of the financial services provider’s stock after selling 431 shares during the quarter. First County Bank CT’s holdings in Intercontinental Exchange were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ICE. Brighton Jones LLC raised its position in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares in the last quarter. Versant Capital Management Inc increased its stake in Intercontinental Exchange by 27.5% in the first quarter. Versant Capital Management Inc now owns 760 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 164 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Parallel Advisors LLC now owns 6,956 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 484 shares in the last quarter. Cascade Investment Advisors Inc. boosted its holdings in shares of Intercontinental Exchange by 0.6% in the 1st quarter. Cascade Investment Advisors Inc. now owns 13,751 shares of the financial services provider’s stock worth $2,372,000 after purchasing an additional 79 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 4.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,659 shares of the financial services provider’s stock worth $1,494,000 after purchasing an additional 356 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director directly owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the transaction, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 231,669 shares of company stock worth $42,333,438. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent research reports. Piper Sandler boosted their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays increased their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, UBS Group upped their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $197.36.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $167.69 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $95.99 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.00 and a beta of 1.10. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm’s 50-day moving average is $178.30 and its 200 day moving average is $174.98.

Intercontinental Exchange (NYSE:ICE) last issued its 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. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 earnings per share. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.