United Bank Raises Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

United Bank raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,646 shares of the financial services provider’s stock after purchasing an additional 802 shares during the quarter. United Bank’s holdings in Intercontinental Exchange were worth $1,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. FSA Wealth Management LLC purchased a new stake in Intercontinental Exchange during the third quarter valued at about $31,000. Lee Danner & Bass Inc. bought a new position in Intercontinental Exchange during the fourth quarter worth about $34,000. BankPlus Trust Department purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth about $40,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $45,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ICE. JPMorgan Chase & Co. reduced their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Barclays lifted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $178.80.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the sale, the insider now owns 12,922 shares of the company’s stock, valued at $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Benjamin Jackson sold 17,104 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the transaction, the president now owns 155,174 shares in the company, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock valued at $10,998,990 over the last ninety days. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $174.65 on Friday. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45. The stock has a 50-day moving average price of $167.12 and a 200-day moving average price of $160.56. The firm has a market cap of $100.35 billion, a PE ratio of 36.54, a P/E/G ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, 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, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share 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 paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

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.