Independence Bank of Kentucky Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Independence Bank of Kentucky cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,161 shares of the financial services provider’s stock after selling 145 shares during the period. Independence Bank of Kentucky’s holdings in Intercontinental Exchange were worth $1,947,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Intercontinental Exchange by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock valued at $5,162,041,000 after buying an additional 1,012,034 shares during the period. Morgan Stanley grew its position in Intercontinental Exchange by 18.9% during the fourth quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock valued at $2,606,466,000 after acquiring an additional 4,044,744 shares during the period. State Street Corp increased its stake in Intercontinental Exchange by 2.2% during the second quarter. State Street Corp now owns 22,796,474 shares of the financial services provider’s stock worth $2,577,825,000 after acquiring an additional 480,742 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Intercontinental Exchange by 45.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock worth $1,755,753,000 after purchasing an additional 5,354,161 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after purchasing an additional 8,348,126 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on ICE shares. Barclays raised their price target on shares of Intercontinental Exchange from $148.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Raymond James raised their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, January 5th. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $133.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. Piper Sandler raised their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Finally, Rosenblatt Securities upped their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $145.83.

Insider Transactions at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,238 shares of Intercontinental Exchange stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $137.36, for a total value of $307,411.68. Following the completion of the transaction, the director now directly owns 29,347 shares in the company, valued at $4,031,103.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Judith A. Sprieser sold 2,238 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $137.36, for a total transaction of $307,411.68. Following the sale, the director now directly owns 29,347 shares of the company’s stock, valued at approximately $4,031,103.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the transaction, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,103 shares of company stock valued at $13,442,786. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.0 %

Shares of ICE opened at $137.48 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The stock has a 50-day moving average price of $135.03 and a 200 day moving average price of $122.56. The company has a market capitalization of $78.72 billion, a P/E ratio of 32.73, a P/E/G ratio of 2.20 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business’s revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.93 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.45 per share. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

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.