First Interstate Bank Sells 16,667 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

First Interstate Bank decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 80.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,160 shares of the financial services provider's stock after selling 16,667 shares during the period. First Interstate Bank's holdings in Intercontinental Exchange were worth $718,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. REAP Financial Group LLC boosted its holdings in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after buying an additional 91 shares during the period. Tsfg LLC boosted its holdings in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the period. Menard Financial Group LLC bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $29,000. Rakuten Securities Inc. boosted its holdings in Intercontinental Exchange by 595.8% in 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 period. Finally, Global Trust Asset Management LLC bought a new stake in Intercontinental Exchange in the 1st quarter valued at about $31,000. Institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Barclays upped their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Bank of America decreased their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.58.

Intercontinental Exchange Trading Down 0.8%

Shares of ICE traded down $1.37 during trading hours on Friday, hitting $180.45. 1,576,878 shares of the stock were exchanged, compared to its average volume of 2,970,341. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $183.99. 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 business has a 50-day moving average of $178.47 and a 200-day moving average of $167.72. The firm has a market capitalization of $103.51 billion, a P/E ratio of 37.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. Intercontinental Exchange's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 earnings per share. On average, research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced 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 1.06%. Intercontinental Exchange's dividend payout ratio is presently 39.75%.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director directly owned 21,364 shares in the company, valued at $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares of the company's stock, valued at $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 228,749 shares of company stock valued at $40,942,387. 1.00% of the stock is currently owned by insiders.

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.