Trust Point Inc. Cuts Position in Intercontinental Exchange Inc. (NYSE:ICE)

Trust Point Inc. trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 37.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,000 shares of the financial services provider’s stock after selling 1,173 shares during the period. Trust Point Inc.’s holdings in Intercontinental Exchange were worth $345,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ICE. REAP Financial Group LLC boosted its holdings in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 91 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth about $25,000. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the 4th quarter worth about $29,000. Redwood Park Advisors LLC bought a new position in Intercontinental Exchange in the 4th quarter worth about $33,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Intercontinental Exchange during the 4th quarter valued at about $34,000. 89.30% of the stock is owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the sale, the senior vice president now owns 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% 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, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 227,954 shares of company stock valued at $40,796,663 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ICE. Bank of America dropped their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Barclays increased their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Morgan Stanley boosted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $188.46.

Intercontinental Exchange Trading Up 0.7%

Intercontinental Exchange stock opened at $180.97 on Wednesday. The business has a 50-day simple moving average of $171.38 and a two-hundred day simple moving average of $164.33. Intercontinental Exchange Inc. has a 52-week low of $134.78 and a 52-week high of $182.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The company has a market cap of $103.81 billion, a P/E ratio of 37.47, a P/E/G ratio of 1.95 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange’s payout ratio is 39.75%.

About Intercontinental Exchange

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.