Bangor Savings Bank Sells 430 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Bangor Savings Bank cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 12,374 shares of the financial services provider’s stock after selling 430 shares during the period. Bangor Savings Bank’s holdings in Intercontinental Exchange were worth $2,135,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ICE. Sierra Ocean LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $25,000. REAP Financial Group LLC lifted its stake in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 91 shares during the last quarter. Menard Financial Group LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $29,000. Redwood Park Advisors LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $33,000. Finally, Lee Danner & Bass Inc. bought a new stake in Intercontinental Exchange in the fourth quarter worth $34,000. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 552 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total transaction of $96,335.04. Following the sale, the insider now owns 15,658 shares in the company, valued at $2,732,634.16. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martha A. Tirinnanzi sold 397 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the sale, the director now owns 4,526 shares in the company, valued at approximately $801,599.86. The trade was a 8.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 226,354 shares of company stock worth $40,512,695. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $178.70 on Friday. The stock has a market cap of $102.51 billion, a PE ratio of 37.38, 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. Intercontinental Exchange, Inc. has a fifty-two week low of $132.93 and a fifty-two week high of $180.89. The firm’s 50-day simple moving average is $168.60 and its two-hundred day simple moving average is $163.46.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.48 earnings per share. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent research reports. Barclays boosted their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Bank of America lowered their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.46.

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.