First PREMIER Bank Reduces Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

First PREMIER Bank lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 400 shares of the financial services provider’s stock after selling 400 shares during the quarter. First PREMIER Bank’s holdings in Intercontinental Exchange were worth $60,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. raised its position in shares of Intercontinental Exchange by 13.8% in the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 62 shares during the period. Raleigh Capital Management Inc. increased its stake in shares of Intercontinental Exchange by 26.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 63 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 66 shares during the period. Commons Capital LLC raised its holdings in Intercontinental Exchange by 1.2% in the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after purchasing an additional 69 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its position in Intercontinental Exchange by 6.2% during the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 70 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,795 shares of company stock worth $2,120,572 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ICE shares. TD Cowen began coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Barclays decreased their price objective on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Keefe, Bruyette & Woods cut their target price on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group boosted 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, Bank of America increased their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $154.11 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $88.48 billion, a P/E ratio of 36.52, a PEG ratio of 2.90 and a beta of 1.10. The company has a 50-day moving average price of $152.92 and a 200 day moving average price of $155.85. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 EPS. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current 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.