Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. lessened its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 15.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,708 shares of the financial services provider’s stock after selling 3,054 shares during the period. Chemung Canal Trust Co.’s holdings in Intercontinental Exchange were worth $2,490,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Quintet Private Bank Europe S.A. raised its holdings in Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 62 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 63 shares during the period. Integrated Advisors Network LLC increased its stake in Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 66 shares during the last quarter. Commons Capital LLC lifted its position in Intercontinental Exchange by 1.2% during the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after buying an additional 69 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its stake in Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the transaction, the general counsel now directly owns 44,702 shares in the company, valued at $6,977,088.16. This represents a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,795 shares of company stock valued at $2,120,572. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods cut their price target on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $175.27.

Intercontinental Exchange Trading Down 0.1 %

NYSE ICE opened at $157.52 on Friday. The company’s fifty day simple moving average is $152.94 and its 200-day simple moving average is $155.86. The stock has a market cap of $90.45 billion, a P/E ratio of 37.33, a PEG ratio of 2.95 and a beta of 1.10. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 EPS. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.05 EPS for the current fiscal year.

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.