Trust Point Inc. Sells 1,173 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Trust Point Inc. reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 37.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the financial services provider’s stock after selling 1,173 shares during the quarter. Trust Point Inc.’s holdings in Intercontinental Exchange were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. Vanguard Group Inc. grew its stake in Intercontinental Exchange by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock valued at $7,782,521,000 after acquiring an additional 538,670 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Intercontinental Exchange by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock valued at $1,765,317,000 after purchasing an additional 327,637 shares in the last quarter. Royal Bank of Canada grew its position in shares of Intercontinental Exchange by 132.9% during the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after purchasing an additional 5,204,309 shares in the last quarter. Norges Bank bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $1,196,258,000. Finally, Northern Trust Corp lifted its position in shares of Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock worth $1,105,953,000 after buying an additional 655,247 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 397 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total value of $70,312.67. Following the transaction, the director now directly owns 4,526 shares in the company, valued at $801,599.86. This represents a 8.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president now directly owns 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on ICE shares. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Barclays increased their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Finally, Bank of America lowered their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.46.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $180.97 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 12 month low of $134.78 and a 12 month high of $182.48. The company has a market capitalization of $103.81 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 1.95 and a beta of 1.12. The firm’s 50-day moving average is $171.38 and its 200 day moving average is $164.33.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange’s payout ratio is 39.75%.

Intercontinental Exchange 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.