Keybank National Association OH Sells 4,840 Shares of Intercontinental Exchange Inc. $ICE

Keybank National Association OH reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 359,034 shares of the financial services provider’s stock after selling 4,840 shares during the quarter. Keybank National Association OH’s holdings in Intercontinental Exchange were worth $65,872,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange during the 2nd quarter valued at $28,000. Activest Wealth Management raised its holdings 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 valued at $29,000 after buying an additional 162 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in Intercontinental Exchange during the 1st quarter valued at $30,000. Hilltop National Bank bought a new stake in Intercontinental Exchange during the 2nd quarter valued at $31,000. Finally, Accredited Wealth Management LLC bought a new stake in Intercontinental Exchange during the 1st quarter valued at $33,000. 89.30% of the stock is currently owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president directly owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the sale, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 240,162 shares of company stock worth $43,642,652 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Morgan Stanley decreased their price objective on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective 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. Finally, Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.60.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $150.26 on Thursday. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company’s 50-day moving average is $166.85 and its 200 day moving average is $173.67. The company has a market capitalization of $86.01 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the firm posted $1.52 EPS. Intercontinental Exchange’s revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange 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.