First Interstate Bank Has $718,000 Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

First Interstate Bank cut its holdings in 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. Tsfg LLC lifted its position in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Rakuten Securities Inc. raised its stake 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 worth $29,000 after purchasing an additional 143 shares in the last quarter. 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 valued at $25,000 after acquiring an additional 91 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Intercontinental Exchange in the 1st quarter valued at $31,000. Finally, Menard Financial Group LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $29,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other news, CAO James W. Namkung sold 612 shares of the stock in a transaction dated Friday, May 30th. The shares were 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 directly owned 13,220 shares in the company, valued at $2,379,600. This represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 228,749 shares of company stock worth $40,942,387. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Up 0.3%

NYSE ICE traded up $0.47 during trading on Thursday, reaching $182.63. 800,775 shares of the stock traded hands, compared to its average volume of 2,975,837. The firm has a market cap of $104.76 billion, a price-to-earnings ratio of 37.79, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. The stock's 50-day moving average price is $178.11 and its 200 day moving average price is $167.17. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $183.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm 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 company earned $1.48 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. Analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.05%. Intercontinental Exchange's payout ratio is 39.75%.

Wall Street Analysts Forecast Growth

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

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.