Morton Community Bank Boosts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Morton Community Bank raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,753 shares of the financial services provider’s stock after acquiring an additional 1,097 shares during the quarter. Morton Community Bank’s holdings in Intercontinental Exchange were worth $3,388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. Norges Bank bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $839,259,000. Wellington Management Group LLP increased its position in Intercontinental Exchange by 35.0% during the 4th 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 purchasing an additional 4,251,371 shares during the period. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. Capital World Investors lifted its position in shares of Intercontinental Exchange by 35.6% in the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Intercontinental Exchange by 303.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock valued at $305,832,000 after buying an additional 1,790,493 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE traded down $2.11 during trading hours on Friday, reaching $160.49. The company had a trading volume of 2,902,217 shares, compared to its average volume of 2,452,683. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50 day moving average price is $152.10 and its 200-day moving average price is $141.19. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The firm has a market cap of $92.05 billion, a PE ratio of 36.81, a price-to-earnings-growth ratio of 2.84 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.43 earnings per share. Research analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ICE shares. Barclays upped their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Citigroup upped 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $154.93.

Insider Buying and Selling

In other news, Director Judith A. Sprieser sold 1,941 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the sale, the director now directly owns 26,908 shares of the company’s stock, valued at $4,323,846.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 1,941 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the completion of the sale, the director now owns 26,908 shares of the company’s stock, valued at $4,323,846.52. The disclosure for this sale can be found here. Insiders sold a total of 66,346 shares of company stock worth $9,472,911 in the last 90 days. Insiders own 1.10% of the company’s stock.

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.