Norway Savings Bank Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Norway Savings Bank boosted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,764 shares of the financial services provider’s stock after purchasing an additional 580 shares during the period. Norway Savings Bank’s holdings in Intercontinental Exchange were worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Intercontinental Exchange by 243.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,736 shares of the financial services provider’s stock worth $191,000 after acquiring an additional 1,230 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Intercontinental Exchange by 19.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 24,071 shares of the financial services provider’s stock worth $2,648,000 after purchasing an additional 3,863 shares in the last quarter. Trexquant Investment LP acquired a new stake in Intercontinental Exchange in the third quarter valued at approximately $3,569,000. Synovus Financial Corp increased its position in shares of Intercontinental Exchange by 5.3% in the third quarter. Synovus Financial Corp now owns 29,488 shares of the financial services provider’s stock valued at $3,244,000 after buying an additional 1,477 shares in the last quarter. Finally, Roundview Capital LLC acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $512,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

ICE stock opened at $136.89 on Friday. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $140.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a market cap of $78.52 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.56 and a beta of 1.06. The business has a fifty day moving average of $134.52 and a two-hundred day moving average of $132.72.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the business earned $1.41 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, research analysts anticipate that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Analysts Set New Price Targets

ICE has been the subject of several recent analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Barclays decreased their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Morgan Stanley boosted their price objective 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. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, May 31st. Finally, Bank of America dropped their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.29.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the sale, the chief executive officer now owns 1,179,895 shares in the company, valued at $161,893,392.95. The disclosure for this sale can be found here. Insiders sold a total of 62,894 shares of company stock worth $8,620,792 over the last ninety days. Company insiders own 1.10% of the company’s stock.

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.