CNB Bank Lowers Stake in Intercontinental Exchange Inc. $ICE

CNB Bank lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 21.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,840 shares of the financial services provider’s stock after selling 503 shares during the period. CNB Bank’s holdings in Intercontinental Exchange were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at approximately $28,000. Tsfg LLC lifted its holdings 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 purchasing an additional 103 shares in the last quarter. Activest Wealth Management grew its position in shares of Intercontinental Exchange by 4,050.0% in 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. Hilltop National Bank acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at about $31,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Intercontinental Exchange during the first quarter worth about $30,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $157.71 on Friday. The stock has a market cap of $90.28 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $168.26 and a 200-day simple moving average of $173.41. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS 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 analysts’ expectations of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.52 earnings per share. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ICE. Morgan Stanley lowered their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday. UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued 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 a consensus price target of $198.60.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the transaction, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,365,331.20. The trade was a 13.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 240,162 shares of company stock worth $43,642,652. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange 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.