Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Grove Bank & Trust

Grove Bank & Trust trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 50.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,766 shares of the financial services provider’s stock after selling 2,774 shares during the quarter. Grove Bank & Trust’s holdings in Intercontinental Exchange were worth $412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ICE. Oak Ridge Investments LLC lifted its stake in Intercontinental Exchange by 6.1% during the fourth quarter. Oak Ridge Investments LLC now owns 43,502 shares of the financial services provider’s stock valued at $6,482,000 after buying an additional 2,501 shares in the last quarter. Jackson Square Capital LLC raised its holdings in shares of Intercontinental Exchange by 12.5% during the fourth quarter. Jackson Square Capital LLC now owns 8,701 shares of the financial services provider’s stock valued at $1,297,000 after acquiring an additional 968 shares during the period. Krilogy Financial LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $3,148,000. HB Wealth Management LLC boosted its stake in Intercontinental Exchange by 1.5% in the 4th quarter. HB Wealth Management LLC now owns 74,303 shares of the financial services provider’s stock worth $11,073,000 after purchasing an additional 1,067 shares during the period. Finally, Premier Path Wealth Partners LLC grew its position in Intercontinental Exchange by 2.4% during the 4th quarter. Premier Path Wealth Partners LLC now owns 4,558 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 106 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares in the company, valued at $9,821,819.32. This trade 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 valued at $2,120,572 in the last three months. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Down 0.8 %

Shares of NYSE:ICE opened at $149.07 on Monday. The company’s fifty day moving average is $153.20 and its 200-day moving average is $155.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $167.99. The company has a market capitalization of $85.59 billion, a PE ratio of 35.33, a P/E/G ratio of 2.29 and a beta of 1.10.

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 analysts’ consensus estimates 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 company’s revenue for the quarter 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. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Piper Sandler raised their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Barclays lowered their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Intercontinental Exchange Company 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.