First Interstate Bank Has $2.94 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

First Interstate Bank trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,854 shares of the financial services provider’s stock after selling 784 shares during the period. First Interstate Bank’s holdings in Intercontinental Exchange were worth $2,935,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its position in Intercontinental Exchange by 27.3% during the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after buying an additional 12,208 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Intercontinental Exchange by 7.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock valued at $13,956,000 after purchasing an additional 8,320 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Intercontinental Exchange by 9.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock valued at $158,738,000 after purchasing an additional 105,042 shares in the last quarter. First County Bank CT grew its stake in Intercontinental Exchange by 2.7% in the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 100 shares in the last quarter. Finally, CIC Wealth LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $221,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Piper Sandler upped their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Morgan Stanley upped their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Raymond James upped their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $147.08.

Insider Transactions at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the acquisition, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now owns 7,476,345 shares in the company, valued at $6,504,420.15. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 157,491 shares of company stock valued at $21,454,204. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded down $0.66 during trading hours on Tuesday, hitting $129.89. The stock had a trading volume of 2,637,591 shares, compared to its average volume of 2,405,310. The company has a 50-day moving average of $136.30 and a two-hundred day moving average of $124.03. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a market cap of $74.37 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.39%. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

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.