Penobscot Investment Management Company Inc. Has $14.39 Million Stake in Intercontinental Exchange Inc. $ICE

Penobscot Investment Management Company Inc. lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 78,450 shares of the financial services provider’s stock after selling 715 shares during the period. Intercontinental Exchange makes up 1.2% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 18th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Intercontinental Exchange were worth $14,393,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ICE. Tsfg LLC increased its stake in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares during the period. Rakuten Securities Inc. grew its holdings 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 purchasing an additional 143 shares in the last quarter. Activest Wealth Management increased its position in shares of Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares during the period. McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange in the first quarter valued at $30,000. Finally, Global Trust Asset Management LLC bought a new position in Intercontinental Exchange in the first quarter worth $31,000. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’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 sale, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 230,874 shares of company stock worth $42,187,714. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ICE. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Barclays raised their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Finally, Morgan Stanley dropped their target price on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a report on Wednesday. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $198.20.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $162.47 on Friday. The stock has a market capitalization of $93.00 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 1.96 and a beta of 1.08. The firm’s 50-day moving average price is $176.53 and its two-hundred day moving average price is $174.67. 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 Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The company 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. On average, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share 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.