Iowa State Bank Sells 5,285 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Iowa State Bank reduced its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,909 shares of the financial services provider's stock after selling 5,285 shares during the quarter. Iowa State Bank's holdings in Intercontinental Exchange were worth $4,297,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its position in Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock valued at $11,022,000 after acquiring an additional 4,787 shares during the period. Governors Lane LP boosted its stake in Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock valued at $18,939,000 after purchasing an additional 59,500 shares in the last quarter. Avantra Family Wealth Inc. bought a new position in Intercontinental Exchange during the 4th quarter valued at $702,000. National Pension Service boosted its stake in Intercontinental Exchange by 19.1% during the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock valued at $184,644,000 after purchasing an additional 198,311 shares in the last quarter. Finally, Hahn Capital Management LLC boosted its stake in shares of Intercontinental Exchange by 69.8% during the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider's stock worth $10,600,000 after acquiring an additional 29,233 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded down $0.07 during mid-day trading on Thursday, hitting $179.06. 895,692 shares of the company were exchanged, compared to its average volume of 3,006,685. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $168.33 and a 200 day moving average of $163.12. Intercontinental Exchange, Inc. has a 1-year low of $132.93 and a 1-year high of $180.89. The company has a market capitalization of $102.71 billion, a PE ratio of 37.46, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12.

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 for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company posted $1.48 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insider Activity

In related news, Director Judith A. Sprieser sold 2,630 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now owns 21,364 shares in the company, valued at $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the transaction, the chief accounting officer now owns 13,220 shares in the company, valued at approximately $2,379,600. This represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,191 shares of company stock worth $694,978. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ICE has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Barclays increased their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. UBS Group raised their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Morgan Stanley raised their target price 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $188.46.

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.