Intercontinental Exchange Inc. $ICE Shares Acquired by First American Bank

First American Bank grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,922 shares of the financial services provider’s stock after purchasing an additional 590 shares during the quarter. Intercontinental Exchange makes up approximately 1.0% of First American Bank’s holdings, making the stock its 25th biggest holding. First American Bank’s holdings in Intercontinental Exchange were worth $14,113,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ICE. Brighton Jones LLC raised its stake in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares during the period. Jefferies Financial Group Inc. raised its stake in Intercontinental Exchange by 5.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 2,459 shares of the financial services provider’s stock worth $366,000 after acquiring an additional 128 shares during the period. Central Pacific Bank Trust Division raised its stake in Intercontinental Exchange by 13.1% during the first quarter. Central Pacific Bank Trust Division now owns 16,943 shares of the financial services provider’s stock worth $2,923,000 after acquiring an additional 1,961 shares during the period. Versant Capital Management Inc raised its stake in Intercontinental Exchange by 27.5% during the first quarter. Versant Capital Management Inc now owns 760 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 164 shares during the period. Finally, Moody National Bank Trust Division raised its stake in Intercontinental Exchange by 1.3% during the first quarter. Moody National Bank Trust Division now owns 9,649 shares of the financial services provider’s stock worth $1,664,000 after acquiring an additional 124 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the sale, the senior vice president owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 231,669 shares of company stock valued at $42,333,438. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ICE shares. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Barclays upped their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.36.

Intercontinental Exchange Price Performance

NYSE ICE opened at $167.69 on Friday. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market cap of $95.99 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 1.99 and a beta of 1.10. The company has a 50-day moving average price of $178.30 and a two-hundred day moving average price of $174.90.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm 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%. Intercontinental Exchange’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 EPS. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current 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.