First Interstate Bank Sells 436 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

First Interstate Bank cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,040 shares of the financial services provider’s stock after selling 436 shares during the period. First Interstate Bank’s holdings in Intercontinental Exchange were worth $3,380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in Intercontinental Exchange during the second quarter valued at about $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 position in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $25,000. Wolff Wiese Magana LLC increased 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 acquiring an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange in the 3rd quarter worth about $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Bank of America raised their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen assumed coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday. Piper Sandler lifted their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $173.93.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now directly owns 14,034 shares in the company, valued at approximately $2,284,875.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock valued at $1,202,259 over the last quarter. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded down $1.23 during midday trading on Friday, hitting $154.64. The company had a trading volume of 4,510,332 shares, compared to its average volume of 2,546,484. Intercontinental Exchange, Inc. has a 52-week low of $104.91 and a 52-week high of $167.99. 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 $161.98 and its 200 day simple moving average is $148.20. The stock has a market cap of $88.79 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.51 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned $1.46 EPS. Research analysts anticipate that Intercontinental Exchange, Inc. will post 6.13 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.16%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 44.55%.

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.