Penobscot Investment Management Company Inc. Sells 5,830 Shares of Intercontinental Exchange Inc. $ICE

Penobscot Investment Management Company Inc. trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,023 shares of the financial services provider’s stock after selling 5,830 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Intercontinental Exchange were worth $10,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kintegral Advisory LLC grew its position in shares of Intercontinental Exchange by 0.6% during the 3rd quarter. Kintegral Advisory LLC now owns 11,435 shares of the financial services provider’s stock worth $1,738,000 after buying an additional 64 shares during the period. Gilpin Wealth Management LLC raised its stake in shares of Intercontinental Exchange by 6.3% during the third quarter. Gilpin Wealth Management LLC now owns 1,118 shares of the financial services provider’s stock worth $170,000 after buying an additional 66 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after buying an additional 68 shares during the last quarter. Chemistry Wealth Management LLC raised its stake in shares of Intercontinental Exchange by 0.9% during the third quarter. Chemistry Wealth Management LLC now owns 7,773 shares of the financial services provider’s stock worth $1,182,000 after buying an additional 68 shares during the last quarter. Finally, Capstone Financial Advisors Inc. lifted its holdings in Intercontinental Exchange by 1.4% in the second quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider’s stock valued at $630,000 after buying an additional 69 shares during the period. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Down 2.8%

Shares of ICE stock opened at $155.49 on Wednesday. The stock has a 50-day moving average of $157.25 and a 200-day moving average of $154.64. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.05.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.81 earnings per share. As a group, research analysts expect that Intercontinental Exchange Inc. will post 8.20 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ICE. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen upped their target price on shares of Intercontinental Exchange from $166.00 to $167.00 and gave the company a “hold” rating in a research report on Monday, October 12th. Barclays reissued an “overweight” rating and issued a $189.00 price target (up from $182.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. Morgan Stanley increased their price target on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research note on Friday, October 9th. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $186.31.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Monday, September 14th. The shares were sold at an average price of $160.00, for a total transaction of $256,000.00. Following the transaction, the senior vice president directly owned 15,863 shares of the company’s stock, valued at $2,538,080. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Benjamin Jackson sold 12,862 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the completion of the transaction, the president directly owned 164,264 shares of the company’s stock, valued at $26,297,023.76. This trade represents a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,179 shares of company stock valued at $6,473,715. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.