Bangor Savings Bank Sells 434 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Bangor Savings Bank reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,804 shares of the financial services provider’s stock after selling 434 shares during the period. Bangor Savings Bank’s holdings in Intercontinental Exchange were worth $1,908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ICE. Wolff Wiese Magana LLC boosted its holdings in Intercontinental Exchange by 1,470.0% in 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. Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange in the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. boosted its stake in shares of Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares during the last quarter. Fairscale Capital LLC bought a new position in Intercontinental Exchange during the second quarter worth $25,000. Finally, Capital Performance Advisors LLP acquired a new position in Intercontinental Exchange in the third quarter valued at $29,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

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

Analysts Set New Price Targets

A number of analysts have weighed in on ICE shares. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. Piper Sandler lifted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 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 research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Finally, 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. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $175.07.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $145.94 on Tuesday. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $155.33 and a two-hundred day moving average price of $155.21. The firm has a market capitalization of $83.80 billion, a P/E ratio of 34.58, a P/E/G ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

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.