Hills Bank & Trust Co Sells 2,200 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Hills Bank & Trust Co trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,217 shares of the financial services provider’s stock after selling 2,200 shares during the period. Intercontinental Exchange accounts for 0.6% of Hills Bank & Trust Co’s portfolio, making the stock its 29th largest position. Hills Bank & Trust Co’s holdings in Intercontinental Exchange were worth $7,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $25,000. Annapolis Financial Services LLC increased its position in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after buying an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in Intercontinental Exchange during the 1st quarter valued at about $26,000. Stuart Chaussee & Associates Inc. acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $28,000. Finally, Venturi Wealth Management LLC increased its position in Intercontinental Exchange by 82.3% during the 1st quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock valued at $28,000 after buying an additional 93 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Argus reaffirmed a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Rosenblatt Securities reiterated a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Barclays boosted their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $154.93.

Insider Buying and Selling

In related news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value 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 $2,675,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at $2,675,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,992 shares of company stock worth $9,197,801. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded up $1.41 during midday trading on Friday, hitting $160.01. The company had a trading volume of 2,665,237 shares, compared to its average volume of 2,468,567. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $160.25. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 1.01. The stock has a market cap of $91.78 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. The business’s 50-day simple moving average is $147.29 and its 200-day simple moving average is $139.45.

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, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 earnings per share. On average, research analysts predict that Intercontinental Exchange, Inc. will post 6 earnings per share 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.