Citizens & Northern Corp Reduces Holdings in Intercontinental Exchange Inc. $ICE

Citizens & Northern Corp reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 21.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,585 shares of the financial services provider’s stock after selling 2,409 shares during the period. Citizens & Northern Corp’s holdings in Intercontinental Exchange were worth $1,575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of ICE. Princeton Global Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $28,000. Tsfg LLC boosted its holdings in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 103 shares during the last quarter. Activest Wealth Management grew its position in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares during the period. Hilltop National Bank purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $31,000. Finally, McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 10,082 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the sale, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This trade represents a 13.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ICE. Morgan Stanley decreased their price target on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research report on Monday, October 13th. Barclays reissued an “overweight” rating and set a $201.00 target price (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.60.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $156.78 on Wednesday. The stock has a market capitalization of $89.74 billion, a P/E ratio of 30.09, a PEG ratio of 2.17 and a beta of 1.08. The business has a 50 day simple moving average of $169.72 and a two-hundred day simple moving average of $173.45. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

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 return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.26 billion during 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. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 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.