Rockland Trust Co. Takes $422,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Rockland Trust Co. purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,629 shares of the financial services provider’s stock, valued at approximately $422,000.

Other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $25,000. Annapolis Financial Services LLC grew its stake in shares of Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the period. New Millennium Group LLC acquired a new position in Intercontinental Exchange during the second quarter worth $25,000. International Assets Investment Management LLC acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the first quarter worth approximately $26,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

ICE traded down $0.50 during trading on Friday, hitting $162.76. The stock had a trading volume of 2,233,038 shares, compared to its average volume of 2,495,323. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $164.18. The firm has a market cap of $93.36 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 2.81 and a beta of 1.08. The company has a 50 day moving average price of $158.16 and a 200-day moving average price of $144.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. As a group, research analysts predict that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Analysts Set New Price Targets

ICE has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group upped their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $167.80.

Insider Activity

In related news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,316 shares of company stock worth $9,835,609. Insiders own 1.10% of the company’s stock.

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.