Grove Bank & Trust Has $890,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Grove Bank & Trust trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,540 shares of the financial services provider’s stock after selling 265 shares during the quarter. Grove Bank & Trust’s holdings in Intercontinental Exchange were worth $890,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the period. CCLA Investment Management increased its stake in shares of Intercontinental Exchange by 91,838.2% in the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after purchasing an additional 1,113,079 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $124,508,000. Janus Henderson Group PLC grew its position in Intercontinental Exchange by 589.4% during the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after acquiring an additional 687,817 shares during the last quarter. Finally, James Hambro & Partners bought a new stake in Intercontinental Exchange during the 2nd quarter worth $93,340,000. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on ICE shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. The Goldman Sachs Group increased their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Citigroup increased their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $170.67.

Intercontinental Exchange Trading Up 1.2 %

Shares of NYSE:ICE traded up $1.88 on Monday, reaching $164.45. 662,503 shares of the company traded hands, compared to its average volume of 2,477,840. The business’s 50-day simple moving average is $159.19 and its 200 day simple moving average is $145.34. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $164.67. The stock has a market capitalization of $94.33 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $1.43 earnings per share. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the sale, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the completion of the sale, the insider now owns 14,636 shares in the company, valued at $2,174,909.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,532 shares of company stock worth $1,507,309 in the last three months. Insiders own 1.10% of the company’s stock.

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.