First Citizens Bank & Trust Co. Sells 2,927 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

First Citizens Bank & Trust Co. reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,856 shares of the financial services provider’s stock after selling 2,927 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Intercontinental Exchange were worth $6,402,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. CCLA Investment Management boosted its stake 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 worth $152,923,000 after purchasing 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 stake in shares of Intercontinental Exchange by 589.4% in the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $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 second quarter valued at about $93,340,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of several research reports. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research report on Monday, October 14th. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday. Bank of America increased their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Citigroup lifted their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $172.80.

Insiders Place Their Bets

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at $2,284,875.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,532 shares of company stock worth $1,358,709 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $166.82 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $167.23. The stock has a 50 day moving average of $160.55 and a 200-day moving average of $146.20. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $95.69 billion, a P/E ratio of 38.26, a P/E/G ratio of 2.62 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.08 EPS for the current year.

About Intercontinental Exchange

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.