CENTRAL TRUST Co Sells 5,391 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

CENTRAL TRUST Co cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 35.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,722 shares of the financial services provider's stock after selling 5,391 shares during the quarter. CENTRAL TRUST Co's holdings in Intercontinental Exchange were worth $1,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of ICE. Global Trust Asset Management LLC bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth $31,000. Rakuten Securities Inc. increased its position in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. Insigneo Advisory Services LLC increased its position in shares of Intercontinental Exchange by 6.1% during the 1st quarter. Insigneo Advisory Services LLC now owns 7,007 shares of the financial services provider's stock valued at $1,209,000 after purchasing an additional 404 shares during the last quarter. Demars Financial Group LLC increased its position in shares of Intercontinental Exchange by 70.7% during the 1st quarter. Demars Financial Group LLC now owns 515,877 shares of the financial services provider's stock valued at $88,989,000 after purchasing an additional 213,746 shares during the last quarter. Finally, NBT Bank N A NY increased its position in shares of Intercontinental Exchange by 8.8% during the 1st quarter. NBT Bank N A NY now owns 13,464 shares of the financial services provider's stock valued at $2,323,000 after purchasing an additional 1,091 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO James W. Namkung sold 612 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the transaction, the chief accounting officer now owns 13,220 shares of the company's stock, valued at approximately $2,379,600. This represents a 4.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,101,705 shares of the company's stock, valued at $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ICE. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Barclays increased their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $188.46.

Intercontinental Exchange Trading Down 0.8%

ICE stock traded down $1.42 during trading on Thursday, hitting $179.57. 2,055,313 shares of the company traded hands, compared to its average volume of 3,017,380. Intercontinental Exchange Inc. has a 1 year low of $134.78 and a 1 year high of $181.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50-day moving average of $171.83 and a 200-day moving average of $164.43. The firm has a market capitalization of $103.00 billion, a PE ratio of 37.18, a P/E/G ratio of 1.96 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter last year, the business posted $1.48 EPS. The business's revenue was up 8.0% on a year-over-year basis. Analysts predict 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 annualized dividend and a yield of 1.07%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 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.