Rockland Trust Co. Increases Stake in Intercontinental Exchange Inc. $ICE

Rockland Trust Co. boosted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 13.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 172,830 shares of the financial services provider’s stock after buying an additional 20,712 shares during the quarter. Rockland Trust Co.’s holdings in Intercontinental Exchange were worth $21,277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Ares Financial Consulting LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth $25,000. Steph & Co. boosted its holdings in Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the period. Brooklands Fund Management Ltd acquired a new position in Intercontinental Exchange during the 4th quarter worth $28,000. Swiss RE Ltd. purchased a new stake in Intercontinental Exchange during the 4th quarter worth about $28,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 20,725 shares of company stock valued at $3,133,148. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 0.4%

Shares of Intercontinental Exchange stock opened at $150.35 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $139.52 and a 200-day simple moving average of $152.97. The stock has a market cap of $84.40 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.48 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the business earned $1.81 EPS. Intercontinental Exchange’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ICE. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. Piper Sandler reduced their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $178.00 price target on shares of Intercontinental Exchange in a research note on Friday, July 31st. The Goldman Sachs Group lowered their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Morgan Stanley reduced their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $183.33.

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.