Penobscot Investment Management Company Inc. Lowers Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Penobscot Investment Management Company Inc. lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 79,970 shares of the financial services provider’s stock after selling 1,382 shares during the period. Intercontinental Exchange comprises about 1.1% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 23rd largest holding. Penobscot Investment Management Company Inc.’s holdings in Intercontinental Exchange were worth $11,916,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ICE. Sierra Ocean LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter valued at approximately $31,000. Lee Danner & Bass Inc. acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $34,000. BankPlus Trust Department acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $40,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in Intercontinental Exchange during the fourth quarter worth $45,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ICE. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Barclays lifted their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Stock Up 0.2 %

Shares of NYSE ICE opened at $175.58 on Wednesday. The stock has a market cap of $100.88 billion, a PE ratio of 36.73, a P/E/G ratio of 2.10 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 0.63. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $176.49. The company has a 50-day moving average of $165.53 and a 200 day moving average of $160.26.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Insider Activity

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the transaction, the senior vice president now owns 21,992 shares in the company, valued at $3,661,008.24. The trade was a 32.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now owns 12,922 shares of the company’s stock, valued at approximately $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is currently owned by company insiders.

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.