AAFMAA Wealth Management & Trust LLC Sells 598 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

AAFMAA Wealth Management & Trust LLC lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,988 shares of the financial services provider’s stock after selling 598 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Intercontinental Exchange were worth $1,723,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. First Affirmative Financial Network increased its position in Intercontinental Exchange by 8.4% in the first quarter. First Affirmative Financial Network now owns 1,838 shares of the financial services provider’s stock worth $317,000 after buying an additional 142 shares during the last quarter. Procyon Advisors LLC lifted its position in shares of Intercontinental Exchange by 300.9% during the 1st quarter. Procyon Advisors LLC now owns 43,306 shares of the financial services provider’s stock valued at $7,470,000 after buying an additional 32,504 shares during the last quarter. Magnus Financial Group LLC bought a new position in shares of Intercontinental Exchange during the 1st quarter worth $228,000. Generali Investments Management Co LLC increased its holdings in Intercontinental Exchange by 12.6% in the 1st quarter. Generali Investments Management Co LLC now owns 6,035 shares of the financial services provider’s stock worth $1,041,000 after acquiring an additional 675 shares during the last quarter. Finally, Fjell Capital LLC increased its holdings in Intercontinental Exchange by 1.7% in the 1st quarter. Fjell Capital LLC now owns 5,897 shares of the financial services provider’s stock worth $1,017,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of several recent research reports. Bank of America dropped their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. UBS Group boosted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Barclays increased their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $188.46.

Insiders Place Their Bets

In related news, insider Christopher Scott Edmonds sold 552 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total value of $96,335.04. Following the transaction, the insider now directly owns 15,658 shares in the company, valued at approximately $2,732,634.16. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director now owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,354 shares of company stock worth $40,512,695 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $178.70 on Friday. Intercontinental Exchange, Inc. has a 1-year low of $132.93 and a 1-year high of $180.89. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $102.51 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The firm’s 50 day simple moving average is $168.60 and its 200 day simple moving average is $163.40.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 EPS. As a group, analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.07%. Intercontinental Exchange’s payout ratio is 39.75%.

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.