First County Bank CT Sells 675 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

First County Bank CT lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 16.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,411 shares of the financial services provider’s stock after selling 675 shares during the quarter. First County Bank CT’s holdings in Intercontinental Exchange were worth $548,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ICE. New Millennium Group LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth $25,000. International Assets Investment Management LLC purchased a new position in Intercontinental Exchange in the second quarter worth about $25,000. Fairscale Capital LLC bought a new stake in Intercontinental Exchange during the second quarter worth approximately $25,000. Wolff Wiese Magana LLC raised its position in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter worth approximately $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ICE shares. Bank of America raised their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the sale, the director now owns 26,908 shares in the company, valued at $4,323,846.52. This represents a 6.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction 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 owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,809 shares of company stock worth $933,978. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 1.9 %

NYSE:ICE opened at $158.70 on Friday. The firm has a 50 day moving average of $160.68 and a 200 day moving average of $150.72. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 52 week low of $111.82 and a 52 week high of $167.99. The stock has a market capitalization of $91.13 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

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.