Trust Co. of Oklahoma Sells 413 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Trust Co. of Oklahoma decreased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,368 shares of the financial services provider’s stock after selling 413 shares during the period. Trust Co. of Oklahoma’s holdings in Intercontinental Exchange were worth $1,399,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its position in Intercontinental Exchange by 1.5% in the first quarter. BlackRock Inc. now owns 41,663,328 shares of the financial services provider’s stock worth $4,345,068,000 after acquiring an additional 608,371 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Intercontinental Exchange by 18.9% in the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock worth $2,606,466,000 after purchasing an additional 4,044,744 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Intercontinental Exchange by 45.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock valued at $1,755,753,000 after purchasing an additional 5,354,161 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 1.2% during the 1st quarter. Geode Capital Management LLC now owns 10,503,361 shares of the financial services provider’s stock valued at $1,092,660,000 after purchasing an additional 127,481 shares during the last quarter. Finally, Veritas Asset Management LLP raised its holdings in shares of Intercontinental Exchange by 76.9% during the 1st quarter. Veritas Asset Management LLP now owns 7,450,402 shares of the financial services provider’s stock valued at $777,002,000 after buying an additional 3,239,605 shares in the last quarter. Institutional investors own 87.91% of the company’s stock.

Insider Activity

In related news, President Benjamin Jackson sold 3,000 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $115.54, for a total value of $346,620.00. Following the completion of the transaction, the president now directly owns 125,647 shares in the company, valued at approximately $14,517,254.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 1,427 shares of Intercontinental Exchange stock in a transaction on Monday, September 11th. The stock was sold at an average price of $115.00, for a total transaction of $164,105.00. Following the completion of the transaction, the insider now owns 14,829 shares in the company, valued at $1,705,335. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 3,000 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $115.54, for a total value of $346,620.00. Following the completion of the sale, the president now directly owns 125,647 shares in the company, valued at $14,517,254.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,563 shares of company stock worth $984,099. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Intercontinental Exchange from $128.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. Raymond James lifted their target price on shares of Intercontinental Exchange from $133.00 to $137.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 5th. Citigroup upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $117.00 to $130.00 in a report on Friday, August 4th. UBS Group raised their price target on Intercontinental Exchange from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Finally, StockNews.com started coverage on shares of Intercontinental Exchange in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

Intercontinental Exchange Trading Up 0.1 %

Shares of NYSE ICE traded up $0.08 during midday trading on Monday, hitting $115.80. 276,413 shares of the company traded hands, compared to its average volume of 2,461,654. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.10 and a current ratio of 1.10. Intercontinental Exchange, Inc. has a 12-month low of $88.60 and a 12-month high of $118.79. The stock has a 50-day moving average price of $115.40 and a 200 day moving average price of $109.62. The firm has a market cap of $64.88 billion, a P/E ratio of 38.48, a P/E/G ratio of 2.32 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Intercontinental Exchange had a return on equity of 13.11% and a net margin of 17.64%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 EPS. As a group, analysts expect that Intercontinental Exchange, Inc. will post 5.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, September 14th. Intercontinental Exchange’s dividend payout ratio is currently 55.81%.

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.