Intercontinental Exchange Inc. $ICE Shares Acquired by Eastern Bank

Eastern Bank increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 14.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,731 shares of the financial services provider’s stock after buying an additional 25,980 shares during the quarter. Eastern Bank’s holdings in Intercontinental Exchange were worth $34,325,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ICE. Brighton Jones LLC raised its stake in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC increased its stake in Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 1,189 shares during the period. Wesbanco Bank Inc. increased its stake in Intercontinental Exchange by 112.8% during the 2nd quarter. Wesbanco Bank Inc. now owns 3,724 shares of the financial services provider’s stock valued at $683,000 after buying an additional 1,974 shares during the period. Parallel Advisors LLC raised its position in shares of Intercontinental Exchange by 3.3% during the 2nd quarter. Parallel Advisors LLC now owns 7,187 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 231 shares in the last quarter. Finally, Goldstone Financial Group LLC lifted its stake in shares of Intercontinental Exchange by 48.4% in the 2nd quarter. Goldstone Financial Group LLC now owns 1,861 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 607 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.2%

Shares of ICE opened at $166.65 on Wednesday. The business’s 50-day moving average price is $158.26 and its 200 day moving average price is $167.56. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $95.02 billion, a P/E ratio of 30.36, a P/E/G ratio of 2.15 and a beta of 1.03. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting the consensus estimate of $1.71. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the company posted $1.55 earnings per share. Analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ICE. UBS Group reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Barclays set a $182.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Thursday, January 8th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, TD Cowen cut their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $191.80.

Insider Activity

In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $163.20, for a total transaction of $261,120.00. Following the transaction, the senior vice president directly owned 24,196 shares of the company’s stock, valued at approximately $3,948,787.20. The trade was a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the sale, the chief executive officer directly owned 1,801,705 shares of the company’s stock, valued at approximately $275,805,001.40. This represents a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 166,068 shares of company stock worth $25,470,702. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Company 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.