Community Trust & Investment Co. Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Community Trust & Investment Co. lifted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.4% in the fourth quarter, HoldingsChannel reports. The fund owned 125,284 shares of the financial services provider’s stock after buying an additional 1,680 shares during the period. Intercontinental Exchange makes up 1.2% of Community Trust & Investment Co.’s investment portfolio, making the stock its 26th biggest position. Community Trust & Investment Co.’s holdings in Intercontinental Exchange were worth $18,668,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in Intercontinental Exchange by 2.8% during the 2nd quarter. Parallel Advisors LLC now owns 6,016 shares of the financial services provider’s stock worth $824,000 after acquiring an additional 164 shares during the last quarter. Thoroughbred Financial Services LLC bought a new stake in Intercontinental Exchange during the 2nd quarter valued at $238,000. Rathbones Group PLC boosted its position in Intercontinental Exchange by 10.5% during the 2nd quarter. Rathbones Group PLC now owns 2,342 shares of the financial services provider’s stock valued at $321,000 after buying an additional 222 shares during the period. Dimensional Fund Advisors LP grew its holdings in Intercontinental Exchange by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,858,631 shares of the financial services provider’s stock worth $254,447,000 after acquiring an additional 144,018 shares during the last quarter. Finally, One Capital Management LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at about $320,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.9 %

Shares of Intercontinental Exchange stock opened at $145.13 on Wednesday. The company has a market cap of $83.33 billion, a price-to-earnings ratio of 34.39, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month 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 company’s 50 day moving average is $153.62 and its 200 day moving average is $155.53.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate 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 period last year, the firm earned $1.46 earnings per share. Research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ICE. Bank of America raised their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Piper Sandler boosted their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, TD Cowen initiated coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $175.20.

Insiders Place Their Bets

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

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.