Trust Co. of Toledo NA OH Has $5.85 Million Stock Position in Intercontinental Exchange Inc. $ICE

Trust Co. of Toledo NA OH grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 31,863 shares of the financial services provider’s stock after buying an additional 280 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Intercontinental Exchange were worth $5,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Eastern Bank increased its position in shares of Intercontinental Exchange by 59.6% during the second quarter. Eastern Bank now owns 177,751 shares of the financial services provider’s stock worth $32,612,000 after acquiring an additional 66,398 shares in the last quarter. PDS Planning Inc grew its position in shares of Intercontinental Exchange by 8.0% during the 2nd quarter. PDS Planning Inc now owns 3,723 shares of the financial services provider’s stock valued at $683,000 after acquiring an additional 276 shares during the period. Stiles Financial Services Inc grew its position in shares of Intercontinental Exchange by 10.4% during the 2nd quarter. Stiles Financial Services Inc now owns 3,482 shares of the financial services provider’s stock valued at $639,000 after acquiring an additional 327 shares during the period. McKinley Carter Wealth Services Inc. bought a new position in Intercontinental Exchange in the 2nd quarter worth approximately $4,986,000. Finally, Callan Family Office LLC boosted its holdings in Intercontinental Exchange by 144.6% in the 2nd quarter. Callan Family Office LLC now owns 18,745 shares of the financial services provider’s stock worth $3,439,000 after buying an additional 11,083 shares during the period. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction dated 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 $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,956 shares of company stock valued at $43,789,542 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Trading Down 1.1%

Shares of ICE opened at $157.51 on Friday. The firm’s 50-day moving average price is $174.01 and its 200-day moving average price is $174.13. The firm has a market capitalization of $90.16 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 1.94 and a beta of 1.08. 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 announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 EPS. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Piper Sandler raised their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.10.

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.