Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Lowered by Norway Savings Bank

Norway Savings Bank reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,772 shares of the financial services provider’s stock after selling 118 shares during the period. Intercontinental Exchange makes up about 1.3% of Norway Savings Bank’s investment portfolio, making the stock its 23rd largest position. Norway Savings Bank’s holdings in Intercontinental Exchange were worth $2,350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in shares of Intercontinental Exchange by 17.0% in the 2nd quarter. Victory Capital Management Inc. now owns 251,633 shares of the financial services provider’s stock valued at $34,446,000 after acquiring an additional 36,616 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of Intercontinental Exchange by 11.4% during the 2nd quarter. Private Advisor Group LLC now owns 29,381 shares of the financial services provider’s stock valued at $4,022,000 after buying an additional 2,998 shares during the last quarter. Savant Capital LLC grew its stake in shares of Intercontinental Exchange by 3.9% in the 2nd quarter. Savant Capital LLC now owns 8,005 shares of the financial services provider’s stock valued at $1,096,000 after buying an additional 302 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Intercontinental Exchange by 2,785.9% in the second quarter. Acadian Asset Management LLC now owns 15,728 shares of the financial services provider’s stock worth $2,150,000 after buying an additional 15,183 shares during the last quarter. Finally, Caprock Group LLC grew its position in Intercontinental Exchange by 12.6% in the second quarter. Caprock Group LLC now owns 7,031 shares of the financial services provider’s stock worth $963,000 after acquiring an additional 786 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now directly owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,533 shares of company stock worth $1,196,279 in the last 90 days. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $0.31 on Tuesday, reaching $146.27. The company had a trading volume of 1,661,005 shares, compared to its average volume of 2,113,086. The business’s 50-day moving average is $155.33 and its 200 day moving average is $155.21. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $83.98 billion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share 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 quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business posted $1.46 earnings per share. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Analyst Ratings Changes

ICE has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday. Finally, Piper Sandler raised their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.07.

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.