Intrust Bank NA Cuts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Intrust Bank NA cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,017 shares of the financial services provider’s stock after selling 72 shares during the quarter. Intrust Bank NA’s holdings in Intercontinental Exchange were worth $1,046,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ICE. Norges Bank bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $1,196,258,000. Janus Henderson Group PLC grew its holdings in Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after purchasing an additional 3,460,096 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth $406,728,000. Swedbank AB lifted its holdings in shares of Intercontinental Exchange by 2,293.3% during the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock valued at $330,171,000 after purchasing an additional 2,123,185 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its position in shares of Intercontinental Exchange by 1,237.7% in the 4th quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock worth $253,591,000 after purchasing an additional 1,574,386 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on ICE shares. Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. UBS Group upped their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Barclays upped their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $174.65 on Friday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $177.45. The stock has a market cap of $100.35 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The business has a 50-day simple moving average of $167.12 and a 200-day simple moving average of $160.56. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, equities analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.10%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

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.