Rockland Trust Co. Has $22.88 Million Stake in Intercontinental Exchange Inc. $ICE

Rockland Trust Co. increased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,259 shares of the financial services provider’s stock after purchasing an additional 13,607 shares during the quarter. Rockland Trust Co.’s holdings in Intercontinental Exchange were worth $22,878,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Holos Integrated Wealth LLC acquired a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Private Wealth Management Group LLC boosted its stake in 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 valued at $30,000 after buying an additional 66 shares in the last quarter. Knuff & Co LLC grew its position in Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Caitlin John LLC bought a new stake in Intercontinental Exchange in the third quarter valued at $32,000. Finally, Cornerstone Planning Group LLC raised its stake in Intercontinental Exchange by 128.6% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ICE. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Royal Bank Of Canada reiterated an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Piper Sandler reissued an “overweight” rating and set a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. Finally, UBS Group reaffirmed a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $194.73.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total value of $23,250,000.00. Following the completion of the transaction, the chief executive officer owned 1,651,705 shares in the company, valued at $256,014,275. The trade was a 8.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the transaction, the insider directly owned 14,266 shares in the company, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 348,418 shares of company stock valued at $54,196,631. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $156.97 on Wednesday. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The stock has a market capitalization of $89.15 billion, a PE ratio of 27.21, a PEG ratio of 1.69 and a beta of 1.03. 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 stock’s fifty day moving average is $161.89 and its 200-day moving average is $160.63.

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

Intercontinental Exchange Announces Dividend

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

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.