United Bank Sells 427 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

United Bank trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,844 shares of the financial services provider’s stock after selling 427 shares during the quarter. United Bank’s holdings in Intercontinental Exchange were worth $1,903,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ICE. Vanguard Group Inc. boosted its stake 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. CCLA Investment Management boosted its position in Intercontinental Exchange by 91,838.2% in the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after buying an additional 1,113,079 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Intercontinental Exchange during the second quarter worth $124,508,000. Janus Henderson Group PLC increased its holdings in shares of Intercontinental Exchange by 589.4% during the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after buying an additional 687,817 shares in the last quarter. Finally, James Hambro & Partners bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $93,340,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.2 %

Intercontinental Exchange stock opened at $156.47 on Friday. The firm has a market capitalization of $89.84 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 2.60 and a beta of 1.08. The firm’s fifty day moving average price is $161.52 and its two-hundred day moving average price is $149.07. Intercontinental Exchange, Inc. has a 1-year low of $108.44 and a 1-year high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly 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 business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.15%. Intercontinental Exchange’s payout ratio is 42.65%.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ICE. TD Cowen initiated coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, November 1st. Bank of America lifted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.93.

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.