Busey Bank Boosts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Busey Bank raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 16.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,852 shares of the financial services provider’s stock after purchasing an additional 393 shares during the quarter. Busey Bank’s holdings in Intercontinental Exchange were worth $458,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC boosted its holdings in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the last quarter. New Millennium Group LLC purchased a new stake in Intercontinental Exchange in the second quarter valued at $25,000. International Assets Investment Management LLC purchased a new stake in Intercontinental Exchange in the second quarter valued at $25,000. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange in the second quarter valued at $25,000. Finally, Wolff Wiese Magana LLC boosted its stake in shares of Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 1.0 %

ICE stock opened at $165.31 on Friday. The company has a market cap of $94.91 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 2.50 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $167.64. The firm has a 50-day moving average of $161.43 and a two-hundred day moving average of $147.00.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 6.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ICE shares. TD Cowen started coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 target price on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday. Raymond James lowered 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 research note on Monday, October 14th. Finally, Barclays upped their price target on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.93.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at $2,675,863.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock worth $1,202,259 in the last 90 days. 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.