Burke & Herbert Bank & Trust Co. Sells 2,050 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Burke & Herbert Bank & Trust Co. lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 20.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,928 shares of the financial services provider's stock after selling 2,050 shares during the quarter. Burke & Herbert Bank & Trust Co.'s holdings in Intercontinental Exchange were worth $1,368,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. REAP Financial Group LLC boosted its holdings in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares during the last quarter. Tsfg LLC lifted its holdings in 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 purchasing an additional 103 shares during the last quarter. Menard Financial Group LLC acquired a new stake in Intercontinental Exchange during the 4th quarter valued at $29,000. Rakuten Securities Inc. lifted its holdings in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in Intercontinental Exchange during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Activity at Intercontinental Exchange

In other news, CAO James W. Namkung sold 612 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer directly owned 13,220 shares in the company, valued at approximately $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 228,749 shares of company stock valued at $40,942,387. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ICE. Barclays lifted their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods lifted 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. 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 report on Wednesday, April 2nd. Finally, Morgan Stanley raised their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $188.46.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded up $1.37 during midday trading on Friday, reaching $183.11. The company's stock had a trading volume of 1,082,826 shares, compared to its average volume of 2,993,486. Intercontinental Exchange Inc. has a 52 week low of $140.32 and a 52 week high of $183.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $177.16 and a 200-day moving average price of $166.50. The stock has a market cap of $105.04 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results 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. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 earnings per share. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 39.75%.

Intercontinental Exchange 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.