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

First Interstate Bank trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 80.0% in the first quarter, according to its most recent 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. REAP Financial Group LLC lifted its position in 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 in the last quarter. Tsfg LLC boosted its stake in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares during the last quarter. Menard Financial Group LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $29,000. Rakuten Securities Inc. increased its stake in 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. Finally, Global Trust Asset Management LLC bought a new stake in Intercontinental Exchange in the 1st quarter valued at $31,000. Institutional investors own 89.30% of the company's stock.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction 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 sale, the chief executive officer directly owned 2,101,705 shares in the company, valued at $376,667,570.10. The trade was a 6.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the business's 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 sale, the director directly owned 21,364 shares of the company's stock, valued at approximately $3,396,876. The trade was a 10.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,749 shares of company stock valued at $40,942,387 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley lifted their target price 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 cut their price objective on shares of 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 increased their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Barclays raised their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $189.62.

Intercontinental Exchange Stock Performance

ICE traded up $0.90 during trading hours on Wednesday, reaching $181.88. The company's stock had a trading volume of 1,788,972 shares, compared to its average volume of 2,984,307. The company's 50-day moving average is $177.83 and its 200-day moving average is $167.07. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $183.99. The firm has a market cap of $104.33 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00.

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 for the quarter, beating the consensus estimate of $1.70 by $0.02. The company 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%. The company'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, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's dividend payout ratio is presently 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.