Webster Bank N. A. Sells 975 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Webster Bank N. A. reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 219.8% in the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after purchasing an additional 8,348,126 shares during the last quarter. Norges Bank bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $579,605,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Intercontinental Exchange by 45.5% in the fourth 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 last quarter. Morgan Stanley grew its stake in shares of Intercontinental Exchange by 18.9% in the fourth 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 during the last quarter. Finally, Third Point LLC bought a new stake in shares of Intercontinental Exchange in the second quarter worth about $209,198,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

ICE stock opened at $137.48 on Thursday. The firm has a 50 day moving average price of $135.03 and a 200-day moving average price of $122.56. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The firm has a market capitalization of $78.72 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 2.20 and a beta of 1.02. 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:ICEGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.93 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.45 dividend. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s payout ratio is presently 42.86%.

Insider Buying and Selling

In related news, CAO James W. Namkung sold 1,182 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 value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the sale, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Douglas Foley sold 7,070 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the sale, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The disclosure for this sale can be found here. Insiders sold a total of 99,103 shares of company stock worth $13,442,786 in the last three months. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. Citigroup lifted their price objective on Intercontinental Exchange from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. UBS Group lifted their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Rosenblatt Securities lifted their price objective on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Piper Sandler lifted 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. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.83.

Check Out Our Latest Analysis on ICE

Intercontinental Exchange Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.