Intercontinental Exchange Inc. $ICE Shares Sold by Webster Bank N. A.

Webster Bank N. A. lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.3% in the second quarter, HoldingsChannel.com reports. The firm owned 21,016 shares of the financial services provider’s stock after selling 69 shares during the quarter. Webster Bank N. A.’s holdings in Intercontinental Exchange were worth $3,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tsfg LLC grew its stake 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 worth $27,000 after purchasing an additional 103 shares in the last quarter. Activest Wealth Management grew its stake 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 worth $29,000 after purchasing an additional 162 shares in the last quarter. Rakuten Securities Inc. grew its stake 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 worth $29,000 after purchasing an additional 143 shares in the last quarter. REAP Financial Group LLC grew its stake 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 worth $25,000 after purchasing an additional 91 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange during the first quarter worth $30,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the transaction, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,730 shares of company stock valued at $42,171,892 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Down 1.2%

Shares of ICE opened at $174.02 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average is $180.62 and its two-hundred day moving average is $175.02. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The firm has a market capitalization of $99.61 billion, a P/E ratio of 33.40, a PEG ratio of 2.07 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 earnings per share. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.