Norway Savings Bank Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Norway Savings Bank reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,772 shares of the financial services provider’s stock after selling 118 shares during the quarter. Intercontinental Exchange comprises approximately 1.3% of Norway Savings Bank’s portfolio, making the stock its 23rd biggest holding. Norway Savings Bank’s holdings in Intercontinental Exchange were worth $2,350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ICE. Wolff Wiese Magana LLC lifted its holdings in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter worth $26,000. Financial Management Professionals Inc. grew its position in shares of Intercontinental Exchange by 106.1% in the third 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 period. Fairscale Capital LLC acquired a new position in Intercontinental Exchange in the second quarter valued at $25,000. Finally, Capital Performance Advisors LLP purchased a new position in Intercontinental Exchange during the third quarter worth about $29,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Piper Sandler increased their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Barclays boosted their price target on Intercontinental Exchange from $173.00 to $187.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. TD Cowen initiated coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.07.

Insider Activity

In related news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders sold 7,533 shares of company stock valued at $1,196,279. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Down 0.2 %

NYSE ICE traded down $0.31 during trading hours on Tuesday, reaching $146.27. 1,661,005 shares of the company traded hands, compared to its average volume of 2,113,086. The company has a 50 day moving average of $155.33 and a two-hundred day moving average of $155.21. The stock has a market capitalization of $83.98 billion, a PE ratio of 34.66, a PEG ratio of 2.57 and a beta of 1.10. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

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

Intercontinental Exchange 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.