First County Bank CT Sells 675 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

by · The Markets Daily

First County Bank CT lessened its position in Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 16.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,411 shares of the financial services provider’s stock after selling 675 shares during the period. First County Bank CT’s holdings in Intercontinental Exchange were worth $548,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quintet Private Bank Europe S.A. raised its position in Intercontinental Exchange by 13.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 63 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 66 shares during the period. American National Bank boosted its holdings in Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in shares of Intercontinental Exchange by 6.2% in the 3rd 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 during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 1.9 %

ICE opened at $158.70 on Friday. Intercontinental Exchange, Inc. has a 1-year low of $111.82 and a 1-year high of $167.99. The firm’s 50 day simple moving average is $160.68 and its two-hundred day simple moving average is $150.72. 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 company has a market capitalization of $91.13 billion, a PE ratio of 37.61, a PEG ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,809 shares of company stock valued at $933,978 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ICE shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. The Goldman Sachs Group raised their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Barclays cut their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Get Our Latest Stock Report on Intercontinental Exchange

Intercontinental Exchange Profile

(Free Report)

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.

See Also

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