Penobscot Investment Management Company Inc. Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Penobscot Investment Management Company Inc. reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,785 shares of the financial services provider’s stock after selling 1,660 shares during the period. Intercontinental Exchange comprises approximately 1.5% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 21st largest position. Penobscot Investment Management Company Inc.’s holdings in Intercontinental Exchange were worth $9,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ICE. Migdal Insurance & Financial Holdings Ltd. increased its stake in Intercontinental Exchange by 187.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 256 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. Oakworth Capital Inc. increased its stake in shares of Intercontinental Exchange by 53.9% during the second quarter. Oakworth Capital Inc. now owns 297 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 104 shares during the period. Spire Wealth Management increased its position in Intercontinental Exchange by 374.6% during the 1st quarter. Spire Wealth Management now owns 299 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 236 shares during the period. GoalVest Advisory LLC purchased a new position in Intercontinental Exchange in the second quarter worth $59,000. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter worth $48,000. Institutional investors and hedge funds own 87.91% of the company’s stock.

Intercontinental Exchange Stock Up 0.4 %

ICE traded up $0.44 on Wednesday, reaching $110.89. The company’s stock had a trading volume of 193,732 shares, compared to its average volume of 2,460,114. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1 year low of $94.16 and a 1 year high of $118.79. The business’s 50 day moving average is $110.49 and its 200 day moving average is $111.46. The stock has a market cap of $63.47 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 2.66 and a beta of 0.98.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, December 14th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.52%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 38.98%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ICE shares. Bank of America lowered their target price on shares of Intercontinental Exchange from $141.00 to $140.00 in a research report on Tuesday, October 3rd. Barclays reduced their price objective on shares of Intercontinental Exchange from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 10th. Morgan Stanley raised their price target on Intercontinental Exchange from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 11th. Rosenblatt Securities lowered their price objective on shares of Intercontinental Exchange from $168.00 to $154.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Finally, Raymond James decreased their target price on Intercontinental Exchange from $137.00 to $135.00 and set a “strong-buy” rating for the company in a report on Thursday, October 5th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $132.42.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $115.43, for a total value of $57,715.00. Following the completion of the sale, the chief financial officer now owns 15,525 shares of the company’s stock, valued at approximately $1,792,050.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $115.43, for a total value of $57,715.00. Following the completion of the transaction, the chief financial officer now directly owns 15,525 shares of the company’s stock, valued at approximately $1,792,050.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martha A. Tirinnanzi sold 496 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $113.56, for a total value of $56,325.76. Following the completion of the sale, the director now directly owns 2,878 shares in the company, valued at $326,825.68. The disclosure for this sale can be found here. Insiders have sold 100,202 shares of company stock valued at $11,299,952 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company Profile

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.