First Western Trust Bank Sells 1,370 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• First Western Trust Bank reduced its holdings in Intercontinental Exchange Inc. by 5.5%, selling 1,370 shares and retaining a total of 23,524 shares worth approximately $4.06 million.
• Several hedge funds have increased their stakes in Intercontinental Exchange, with Townsquare Capital raising its holdings by 65.2% in the 1st quarter.
• Intercontinental Exchange's recent quarterly earnings exceeded estimates, reporting $1.81 earnings per share, along with a net margin of 23.92%.

First Western Trust Bank cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,524 shares of the financial services provider's stock after selling 1,370 shares during the period. First Western Trust Bank's holdings in Intercontinental Exchange were worth $4,058,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Royal Bank of Canada boosted its position in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after buying an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock valued at $677,465,000 after buying an additional 3,678,384 shares during the last quarter. GAMMA Investing LLC boosted its position in 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 valued at $3,906,700,000 after buying an additional 2,255,507 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Intercontinental Exchange by 50.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after buying an additional 1,993,084 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Intercontinental Exchange by 26.6% in the 4th quarter. Janus Henderson Group PLC now owns 5,721,604 shares of the financial services provider's stock valued at $852,578,000 after buying an additional 1,200,965 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of a number of recent research reports. Barclays increased their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley increased their price target 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. Finally, UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Intercontinental Exchange Trading Down 1.6%

Intercontinental Exchange stock traded down $2.93 during mid-day trading on Tuesday, hitting $183.01. 3,847,194 shares of the company's stock were exchanged, compared to its average volume of 2,992,025. The firm has a market capitalization of $104.76 billion, a P/E ratio of 35.13, a PEG ratio of 2.21 and a beta of 1.11. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company's 50 day simple moving average is $181.78 and its 200-day simple moving average is $172.96.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the business posted $1.52 EPS. The company's revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.0%. Intercontinental Exchange's dividend payout ratio is 36.85%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel owned 48,480 shares of the company's stock, valued at $8,683,737.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sharon Bowen sold 794 shares of Intercontinental Exchange stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $185.00, for a total value of $146,890.00. Following the completion of the sale, the director directly owned 14,206 shares in the company, valued at $2,628,110. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,913 shares of company stock worth $40,671,107. 1.00% of the stock is currently owned by company 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.