STAR Financial Bank Sells 205 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

STAR Financial Bank trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,206 shares of the financial services provider’s stock after selling 205 shares during the quarter. STAR Financial Bank’s holdings in Intercontinental Exchange were worth $441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Annapolis Financial Services LLC lifted its stake in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Intercontinental Exchange during the first quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC raised its stake in Intercontinental Exchange by 82.3% during the 1st quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock valued at $28,000 after buying an additional 93 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. 89.30% of the stock is currently owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 395 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now owns 64,471 shares in the company, valued at $9,098,792.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,290 shares of company stock worth $8,937,674. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ICE shares. JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Rosenblatt Securities reissued a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Bank of America lowered their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Barclays cut their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.43.

Intercontinental Exchange Price Performance

ICE stock traded up $1.94 during trading on Wednesday, hitting $144.40. 2,873,935 shares of the company’s stock traded hands, compared to its average volume of 2,356,163. The business has a fifty day simple moving average of $136.13 and a 200 day simple moving average of $133.81. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $144.47. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $82.83 billion, a price-to-earnings ratio of 33.12, a P/E/G ratio of 2.63 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. Intercontinental Exchange’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. As a group, research analysts expect that Intercontinental Exchange, Inc. will post 5.96 EPS for the current fiscal year.

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.