First American Bank Raises Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

First American Bank boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,332 shares of the financial services provider's stock after purchasing an additional 1,580 shares during the period. Intercontinental Exchange comprises 1.0% of First American Bank's portfolio, making the stock its 29th largest position. First American Bank's holdings in Intercontinental Exchange were worth $13,167,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Intercontinental Exchange during the 4th quarter valued at approximately $1,196,258,000. Royal Bank of Canada boosted its position in Intercontinental Exchange by 132.9% during the 4th 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 period. Kovitz Investment Group Partners LLC boosted its position in Intercontinental Exchange by 423.8% during the 4th 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 period. Raymond James Financial Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth $406,728,000. Finally, GAMMA Investing LLC raised its stake in shares of Intercontinental Exchange by 24,394.4% in the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after buying an additional 2,255,507 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $178.27 on Friday. Intercontinental Exchange Inc. has a 1-year low of $136.08 and a 1-year high of $181.65. The firm has a market capitalization of $102.26 billion, a PE ratio of 36.91, a PEG ratio of 1.94 and a beta of 1.12. The business's 50 day moving average is $172.76 and its 200-day moving average is $164.73. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced 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 company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm earned $1.48 EPS. Intercontinental Exchange's revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.08%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insider Buying and Selling

In related news, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the transaction, the chief accounting officer now owns 13,220 shares in the company, valued at $2,379,600. This trade represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now owns 21,364 shares of the company's stock, valued at $3,396,876. This trade represents a 10.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 227,954 shares of company stock worth $40,796,663 in the last 90 days. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

ICE has been the topic of several recent analyst reports. Morgan Stanley upped their price target 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. Bank of America dropped their price target 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. Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Barclays upped their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and a consensus price target of $188.46.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.