Eastern Bank Has $19.21 Million Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Eastern Bank boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 24.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,353 shares of the financial services provider's stock after purchasing an additional 21,784 shares during the quarter. Eastern Bank's holdings in Intercontinental Exchange were worth $19,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Intercontinental Exchange by 132.9% during the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in Intercontinental Exchange by 423.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after acquiring an additional 3,678,384 shares during the last quarter. GAMMA Investing LLC increased its stake in Intercontinental Exchange by 24,394.4% during the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after acquiring an additional 2,255,507 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Intercontinental Exchange by 50.6% during the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after acquiring an additional 1,993,084 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Intercontinental Exchange by 26.6% in the fourth quarter. Janus Henderson Group PLC now owns 5,721,604 shares of the financial services provider's stock worth $852,578,000 after buying an additional 1,200,965 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ICE has been the subject of a number of analyst reports. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Bank of America reduced their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Barclays increased their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $194.42.

Intercontinental Exchange Stock Up 0.8%

ICE traded up $1.47 during trading on Wednesday, reaching $186.18. 3,506,659 shares of the stock traded hands, compared to its average volume of 1,871,467. The stock's 50-day simple moving average is $180.10 and its two-hundred day simple moving average is $170.55. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $187.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $106.80 billion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted 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 in the previous year, the firm earned $1.48 EPS. The firm's revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.03%. Intercontinental Exchange's dividend payout ratio is 39.75%.

Insider Activity

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's 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 sale, the chief executive officer directly owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. This represents a 6.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,913 shares of company stock valued at $40,671,107. Corporate insiders own 1.00% of the company's stock.

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.