First National Bank of Hutchinson Boosts Position in Intercontinental Exchange Inc. (NYSE:ICE)

First National Bank of Hutchinson grew its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 53.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,447 shares of the financial services provider's stock after buying an additional 1,900 shares during the period. First National Bank of Hutchinson's holdings in Intercontinental Exchange were worth $940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Berkeley Capital Partners LLC raised its position in Intercontinental Exchange by 1.1% during the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after buying an additional 62 shares during the last quarter. GPS Wealth Strategies Group LLC increased its stake in shares of Intercontinental Exchange by 17.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock worth $74,000 after acquiring an additional 63 shares during the period. Values Added Financial LLC raised its holdings in shares of Intercontinental Exchange by 4.4% during the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock worth $264,000 after purchasing an additional 64 shares during the last quarter. MV Capital Management Inc. raised its holdings in shares of Intercontinental Exchange by 15.7% during the first quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock worth $86,000 after purchasing an additional 68 shares during the last quarter. Finally, Quadcap Wealth Management LLC lifted its position in Intercontinental Exchange by 1.2% during the fourth quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider's stock valued at $918,000 after purchasing an additional 71 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ICE. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods raised 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. Morgan Stanley lifted 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 lowered their price objective 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. Finally, UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $194.42.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded up $2.70 during trading on Thursday, reaching $183.70. The company had a trading volume of 2,981,184 shares, compared to its average volume of 1,777,487. The firm has a market capitalization of $105.38 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. The firm's 50-day simple moving average is $179.46 and its 200 day simple moving average is $169.32. 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 Inc. has a 1-year low of $142.29 and a 1-year high of $184.03.

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

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the sale, the senior vice president directly owned 27,313 shares of the company's stock, valued at $4,847,511.24. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $26,883,000.00. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,119 shares of company stock valued at $40,524,217. 1.00% of the stock is 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.