Intercontinental Exchange Inc. $ICE Shares Bought by Norway Savings Bank

Norway Savings Bank grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,058 shares of the financial services provider’s stock after acquiring an additional 388 shares during the quarter. Intercontinental Exchange comprises about 1.5% of Norway Savings Bank’s investment portfolio, making the stock its 22nd largest holding. Norway Savings Bank’s holdings in Intercontinental Exchange were worth $2,946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. REAP Financial Group LLC boosted its holdings in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 91 shares during the period. Tsfg LLC boosted its holdings in shares of Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares during the period. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $29,000. Rakuten Securities Inc. boosted its holdings in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares during the period. Finally, Activest Wealth Management boosted its holdings in shares of Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 162 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $174.02 on Friday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The firm’s 50-day simple moving average is $180.62 and its 200 day simple moving average is $174.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market cap of $99.61 billion, a P/E ratio of 33.40, a P/E/G ratio of 2.10 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business earned $1.52 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,730 shares of company stock valued at $42,171,892 in the last quarter. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ICE has been the subject of several analyst reports. UBS Group boosted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Barclays lifted their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $194.92.

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.