Trust Co. of Vermont Reduces Stock Position in Intercontinental Exchange Inc. (NYSE:ICE)

Trust Co. of Vermont cut its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,658 shares of the financial services provider's stock after selling 3,420 shares during the period. Trust Co. of Vermont's holdings in Intercontinental Exchange were worth $10,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Governors Lane LP grew its position in shares of Intercontinental Exchange by 88.0% in the fourth 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. National Pension Service grew its position in Intercontinental Exchange by 19.1% in the fourth quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock worth $184,644,000 after acquiring an additional 198,311 shares during the period. Hahn Capital Management LLC grew its position in Intercontinental Exchange by 69.8% in the fourth 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 during the period. Tema Etfs LLC purchased a new position in Intercontinental Exchange in the fourth quarter worth approximately $1,107,000. Finally, Otter Creek Advisors LLC grew its position in Intercontinental Exchange by 102.2% in the fourth quarter. Otter Creek Advisors LLC now owns 33,233 shares of the financial services provider's stock worth $4,952,000 after acquiring an additional 16,797 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ICE has been the subject of several analyst reports. Morgan Stanley increased their price objective 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. 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 research report on Friday, May 2nd. Barclays increased their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Bank of America lowered 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of "Moderate Buy" and a consensus target price of $188.46.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction on Friday, May 30th. The stock was 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 directly owns 13,220 shares in the company, valued at approximately $2,379,600. This trade represents 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 this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the transaction, the senior vice president now owns 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 227,954 shares of company stock worth $40,796,663. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Up 0.2%

Shares of NYSE ICE opened at $180.97 on Friday. Intercontinental Exchange Inc. has a twelve month low of $136.21 and a twelve month high of $181.98. 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 stock has a fifty day simple moving average of $174.49 and a 200-day simple moving average of $165.41. The stock has a market capitalization of $103.81 billion, a PE ratio of 37.47, a PEG ratio of 1.95 and a beta of 1.12.

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

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 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.

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