Community Trust & Investment Co. Sells 273 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Community Trust & Investment Co. reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.2% during the first quarter, HoldingsChannel.com reports. The firm owned 125,011 shares of the financial services provider’s stock after selling 273 shares during the quarter. Intercontinental Exchange makes up about 1.4% of Community Trust & Investment Co.’s portfolio, making the stock its 22nd largest holding. Community Trust & Investment Co.’s holdings in Intercontinental Exchange were worth $21,565,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $25,000. REAP Financial Group LLC boosted its stake in Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Menard Financial Group LLC purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $29,000. Redwood Park Advisors LLC purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $33,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $34,000. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 68,315 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.25, for a total transaction of $12,245,463.75. Following the transaction, the chief executive officer now directly owns 1,162,908 shares in the company, valued at approximately $208,451,259. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer now owns 13,220 shares in the company, valued at $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 227,954 shares of company stock worth $40,796,663. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the topic of several recent analyst reports. Morgan Stanley increased their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Bank of America dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Barclays raised their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $188.46.

Intercontinental Exchange Price Performance

NYSE ICE opened at $178.30 on Monday. The company has a market capitalization of $102.28 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The business’s fifty day moving average is $170.32 and its 200 day moving average is $164.08. Intercontinental Exchange, Inc. has a fifty-two week low of $133.97 and a fifty-two week high of $180.89.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Intercontinental Exchange’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 earnings per share. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.08%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

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.