Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Webster Bank N. A.

Webster Bank N. A. decreased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.3% during the 4th quarter, Holdings Channel reports. The firm owned 21,569 shares of the financial services provider’s stock after selling 975 shares during the quarter. Webster Bank N. A.’s holdings in Intercontinental Exchange were worth $2,770,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Fortitude Family Office LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. Jones Financial Companies Lllp acquired a new position in Intercontinental Exchange during the third quarter worth about $26,000. OFI Invest Asset Management acquired a new position in Intercontinental Exchange during the third quarter worth about $25,000. BKM Wealth Management LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth about $31,000. Finally, First Capital Advisors Group LLC. acquired a new position in Intercontinental Exchange during the second quarter worth about $35,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $137.48 on Thursday. The company’s 50 day simple moving average is $135.03 and its 200-day simple moving average is $122.56. The company has a market capitalization of $78.72 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 2.20 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. 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 (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 5.93 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.45 per share. This is an increase 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 was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Insider Buying and Selling

In related news, insider Elizabeth Kathryn King sold 3,783 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the sale, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the transaction, the insider now owns 17,242 shares in the company, valued at approximately $2,276,461.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Insiders have sold a total of 99,103 shares of company stock valued at $13,442,786 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ICE. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $133.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Barclays lifted their target price on shares of Intercontinental Exchange from $148.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Finally, Citigroup lifted their target price on shares of Intercontinental Exchange from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Three equities research analysts have rated the stock with a hold rating, eight have issued 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 $145.83.

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.