Stock Yards Bank & Trust Co. cut its position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 4.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,756 shares of the financial services provider’s stock after selling 125 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Intercontinental Exchange were worth $506,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Intercontinental Exchange by 1.4% during the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock worth $9,132,211,000 after buying an additional 712,179 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after buying an additional 5,345,388 shares in the last quarter. Amundi grew its holdings in shares of Intercontinental Exchange by 14.7% during the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after buying an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP grew its holdings in shares of Intercontinental Exchange by 0.5% during the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock worth $1,068,193,000 after buying an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
ICE has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday, September 27th. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Morgan Stanley reduced their price target on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Finally, Barclays increased their price target on Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $198.20.
Intercontinental Exchange Stock Performance
ICE opened at $162.47 on Friday. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The stock has a market cap of $93.00 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.98 and a beta of 1.08. The business has a 50 day moving average of $176.53 and a 200-day moving average of $174.68. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings data 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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the firm posted $1.52 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 230,874 shares of company stock valued at $42,187,714. 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.
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