Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by CNB Bank

CNB Bank trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 25.6% in the third quarter, HoldingsChannel.com reports. The firm owned 3,220 shares of the financial services provider’s stock after selling 1,106 shares during the quarter. CNB Bank’s holdings in Intercontinental Exchange were worth $517,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ICE. Assenagon Asset Management S.A. grew its position in shares of Intercontinental Exchange by 819.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after buying an additional 122,169 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Intercontinental Exchange by 7.0% in the first quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock valued at $43,617,000 after acquiring an additional 20,802 shares in the last quarter. Mission Wealth Management LP acquired a new position in Intercontinental Exchange in the first quarter valued at $866,000. Lloyd Advisory Services LLC. grew its holdings in shares of Intercontinental Exchange by 610.7% during the first quarter. Lloyd Advisory Services LLC. now owns 12,885 shares of the financial services provider’s stock worth $1,771,000 after purchasing an additional 11,072 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its position in shares of Intercontinental Exchange by 200.2% during the first quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock worth $1,987,000 after purchasing an additional 9,642 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, October 4th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a report on Monday, October 14th. TD Cowen assumed coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Finally, Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday. Three 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 has an average rating of “Moderate Buy” and an average price target of $172.80.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Stuart Glen Williams sold 468 shares of the company’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 $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,532 shares of company stock valued at $1,358,709 over the last quarter. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 1.2 %

ICE stock opened at $166.83 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50 day simple moving average is $160.55 and its 200-day simple moving average is $146.26. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $167.23. The firm has a market capitalization of $95.69 billion, a PE ratio of 38.26, a P/E/G ratio of 2.62 and a beta of 1.08.

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