Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Webster Bank N. A.

Webster Bank N. A. cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 14.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 22,664 shares of the financial services provider's stock after selling 3,760 shares during the period. Webster Bank N. A.'s holdings in Intercontinental Exchange were worth $2,563,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter valued at about $25,000. OLD Mission Capital LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Intercontinental Exchange by 187.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 256 shares of the financial services provider's stock valued at $26,000 after buying an additional 167 shares during the last quarter. Spire Wealth Management raised its position in shares of Intercontinental Exchange by 374.6% in the first quarter. Spire Wealth Management now owns 299 shares of the financial services provider's stock valued at $31,000 after buying an additional 236 shares during the last quarter. Finally, Piscataqua Savings Bank raised its position in shares of Intercontinental Exchange by 35.1% in the first quarter. Piscataqua Savings Bank now owns 385 shares of the financial services provider's stock valued at $40,000 after buying an additional 100 shares during the last quarter. 87.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 3,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $115.54, for a total value of $346,620.00. Following the transaction, the president now directly owns 125,647 shares of the company's stock, valued at approximately $14,517,254.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, September 8th. The shares were sold at an average price of $115.43, for a total value of $57,715.00. Following the transaction, the chief financial officer now directly owns 15,525 shares in the company, valued at approximately $1,792,050.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Benjamin Jackson sold 3,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $115.54, for a total transaction of $346,620.00. Following the completion of the transaction, the president now owns 125,647 shares in the company, valued at $14,517,254.38. The disclosure for this sale can be found here. Insiders have sold a total of 10,563 shares of company stock valued at $1,218,379 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Up 0.1 %

ICE stock traded up $0.10 during mid-day trading on Tuesday, hitting $115.99. 739,403 shares of the company were exchanged, compared to its average volume of 2,459,590. The business has a fifty day simple moving average of $115.40 and a 200-day simple moving average of $109.62. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 12-month low of $88.60 and a 12-month high of $118.79. The firm has a market capitalization of $64.99 billion, a P/E ratio of 38.50, a PEG ratio of 2.30 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.37 by $0.06. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm posted $1.32 earnings per share. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 5.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.42 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.68 annualized dividend and a yield of 1.45%. Intercontinental Exchange's dividend payout ratio (DPR) is 55.81%.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a "buy" rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Friday, August 4th. Barclays cut their price objective on shares of Intercontinental Exchange from $128.00 to $122.00 and set an "equal weight" rating for the company in a research report on Friday, August 4th. Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $124.00 to $118.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 6th. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $125.00 to $135.00 in a research report on Wednesday, July 5th. Finally, Citigroup upgraded shares of Intercontinental Exchange from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $117.00 to $130.00 in a research report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $133.09.

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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