Bank of Stockton Trims Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Bank of Stockton decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 31.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,520 shares of the financial services provider’s stock after selling 1,131 shares during the period. Bank of Stockton’s holdings in Intercontinental Exchange were worth $405,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. grew its position in shares of Intercontinental Exchange by 26.4% in the third 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 during the period. American National Bank lifted its stake in Intercontinental Exchange by 13.8% in the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after buying an additional 69 shares in the last quarter. Veracity Capital LLC boosted its holdings in Intercontinental Exchange by 3.4% in the 3rd quarter. Veracity Capital LLC now owns 2,206 shares of the financial services provider’s stock worth $354,000 after buying an additional 72 shares during the last quarter. Catalyst Financial Partners LLC increased its stake in Intercontinental Exchange by 3.4% during the 2nd quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock worth $304,000 after buying an additional 73 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Intercontinental Exchange by 1.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock valued at $559,000 after acquiring an additional 74 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.3 %

Shares of ICE traded up $0.46 during midday trading on Friday, reaching $167.36. The stock had a trading volume of 642,272 shares, compared to its average volume of 2,492,630. The company has a market cap of $96.00 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.62 and a beta of 1.08. The company’s fifty day simple moving average is $161.21 and its two-hundred day simple moving average is $146.86. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $167.55. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results 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. 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. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ICE. Citigroup upped their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. TD Cowen assumed coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, October 4th. 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 company. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $173.93.

Insider Buying and Selling at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now owns 16,665 shares in the company, valued at approximately $2,666,400. 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. In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the transaction, the director now owns 3,958 shares of the company’s stock, valued at $629,242.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $1,202,259 over the last three months. 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.