Bank of Stockton Cuts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Bank of Stockton decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 14.6% in the second quarter, Holdings Channel reports. The institutional investor owned 3,651 shares of the financial services provider’s stock after selling 625 shares during the period. Bank of Stockton’s holdings in Intercontinental Exchange were worth $500,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after buying an additional 4,251,371 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Intercontinental Exchange by 8.5% during the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after purchasing an additional 1,991 shares in the last quarter. Point72 Europe London LLP increased its stake in shares of Intercontinental Exchange by 10.9% during the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock worth $8,515,000 after purchasing an additional 6,500 shares in the last quarter. Perpetual Ltd increased its stake in shares of Intercontinental Exchange by 0.4% during the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after purchasing an additional 6,272 shares in the last quarter. Finally, LGT Group Foundation increased its stake in shares of Intercontinental Exchange by 36.0% during the fourth quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after purchasing an additional 94,039 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.9 %

Shares of NYSE:ICE traded up $1.41 during trading hours on Friday, reaching $160.01. The stock had a trading volume of 2,665,237 shares, compared to its average volume of 2,468,567. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $160.25. The firm’s 50 day moving average is $147.29 and its 200-day moving average is $139.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 0.99. The stock has a market capitalization of $91.78 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 2.68 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm posted $1.43 EPS. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. Research analysts predict that Intercontinental Exchange, Inc. will post 6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Rosenblatt Securities restated a “buy” rating and issued a $164.00 price objective on shares of Intercontinental Exchange in a report on Friday, May 3rd. Argus restated a “buy” rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Finally, StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.93.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CTO Mayur Kapani sold 395 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO James W. Namkung sold 1,043 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,992 shares of company stock valued at $9,197,801. Insiders own 1.10% 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.