Park National Corp OH Cuts Stock Holdings in Intercontinental Exchange Inc. $ICE

Park National Corp OH lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,558 shares of the financial services provider’s stock after selling 4,243 shares during the period. Park National Corp OH’s holdings in Intercontinental Exchange were worth $26,814,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC bought a new position in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Private Wealth Management Group LLC increased its holdings in shares of Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Knuff & Co LLC raised its stake in shares of Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Caitlin John LLC purchased a new position in shares of Intercontinental Exchange in the third quarter worth $32,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Intercontinental Exchange by 128.6% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 153 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the sale, the general counsel owned 48,181 shares in the company, valued at approximately $7,805,322. This trade represents a 8.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00. Following the completion of the transaction, the chief financial officer owned 27,679 shares of the company’s stock, valued at approximately $4,262,566. The trade was a 8.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 348,418 shares of company stock worth $54,196,631 in the last 90 days. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $158.37 on Friday. The business’s fifty day moving average is $164.16 and its 200 day moving average is $161.83. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $89.94 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the prior year, the business posted $1.52 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 36.05%.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Finally, Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $194.73.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.