Intercontinental Exchange Inc. $ICE Shares Sold by Community Trust & Investment Co.

Key Points

• Community Trust & Investment Co. reduced its stake in Intercontinental Exchange Inc. by 12.9%, selling 16,184 shares in the second quarter, leaving them with holdings valued at $19,966,000.
• Various institutional investors increased their positions in Intercontinental Exchange, with Price T Rowe Associates Inc. growing their holdings by 491.3% in the first quarter.
• Analysts recently updated their price targets for ICE, with Barclays raising their target from $206.00 to $212.00, reflecting a positive outlook on the stock.

Community Trust & Investment Co. trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 12.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,827 shares of the financial services provider's stock after selling 16,184 shares during the quarter. Intercontinental Exchange makes up 1.2% of Community Trust & Investment Co.'s holdings, making the stock its 26th largest holding. Community Trust & Investment Co.'s holdings in Intercontinental Exchange were worth $19,966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Intercontinental Exchange by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock worth $9,132,211,000 after acquiring an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock worth $1,109,780,000 after acquiring an additional 5,345,388 shares during the last quarter. Amundi grew its holdings in shares of Intercontinental Exchange by 14.7% in the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider's stock worth $1,060,574,000 after acquiring an additional 810,938 shares during the last quarter. Independent Franchise Partners LLP grew its holdings in shares of Intercontinental Exchange by 0.5% in the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock worth $1,068,193,000 after acquiring an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after acquiring an additional 3,165,381 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ICE has been the topic of a number of recent research reports. Barclays lifted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Piper Sandler lifted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and an average target price of $194.92.

Intercontinental Exchange Stock Up 0.3%

Shares of ICE opened at $171.98 on Thursday. The business's fifty day moving average price is $180.01 and its two-hundred day moving average price is $174.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $98.44 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.04 and a beta of 1.10. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

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

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, the general counsel owned 46,293 shares of the company's stock, valued at $8,255,430.69. The trade was a 7.68% 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, Director Judith A. Sprieser sold 2,900 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,730 shares of company stock valued at $42,171,892 in the last quarter. 1.00% of the stock is currently owned by corporate 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.

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