FineMark National Bank & Trust Sells 1,822 Shares of Intercontinental Exchange Inc. $ICE

FineMark National Bank & Trust reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.8% in the second quarter, Holdings Channel reports. The fund owned 99,890 shares of the financial services provider’s stock after selling 1,822 shares during the quarter. FineMark National Bank & Trust’s holdings in Intercontinental Exchange were worth $18,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of ICE. Advisors Capital Management LLC raised its stake in Intercontinental Exchange by 25.0% in the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 396 shares during the period. Trillium Asset Management LLC increased its stake in shares of Intercontinental Exchange by 12.0% in the second quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock worth $49,907,000 after purchasing an additional 29,250 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Intercontinental Exchange by 6.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock valued at $161,195,000 after purchasing an additional 55,057 shares during the period. King Luther Capital Management Corp raised its position in shares of Intercontinental Exchange by 19.7% in the second quarter. King Luther Capital Management Corp now owns 294,112 shares of the financial services provider’s stock valued at $53,961,000 after purchasing an additional 48,344 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $1,075,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred 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. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 24,098 shares of company stock valued at $4,024,000 in the last ninety days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ICE shares. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Barclays set a $183.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. decreased their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $194.70.

Intercontinental Exchange Trading Up 1.7%

Shares of ICE stock opened at $152.82 on Wednesday. The company has a market capitalization of $87.13 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The business’s fifty day moving average is $159.29 and its 200 day moving average is $172.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company earned $1.55 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.