First Western Trust Bank Sells 369 Shares of Intercontinental Exchange Inc. $ICE

First Western Trust Bank reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 1.6% during the second quarter, Holdings Channel.com reports. The firm owned 23,155 shares of the financial services provider’s stock after selling 369 shares during the quarter. First Western Trust Bank’s holdings in Intercontinental Exchange were worth $4,248,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. ABN Amro Investment Solutions bought a new stake in Intercontinental Exchange during the 2nd quarter valued at $90,410,000. Candriam S.C.A. grew its holdings in shares of Intercontinental Exchange by 31.5% during the second quarter. Candriam S.C.A. now owns 461,821 shares of the financial services provider’s stock valued at $84,734,000 after buying an additional 110,734 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Intercontinental Exchange by 4.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 86,720 shares of the financial services provider’s stock valued at $15,911,000 after buying an additional 3,770 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 1.2% during the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after acquiring an additional 145,961 shares in the last quarter. Finally, M&G PLC raised its holdings in shares of Intercontinental Exchange by 11.5% in the 2nd quarter. M&G PLC now owns 90,435 shares of the financial services provider’s stock worth $16,550,000 after acquiring an additional 9,318 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ICE shares. TD Cowen cut their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. UBS Group decreased their price target on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a report on Friday, October 31st. Morgan Stanley lowered their price target on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Finally, Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $154.00 on Thursday. The business’s fifty day simple moving average is $161.05 and its 200 day simple moving average is $172.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The firm has a market capitalization of $87.81 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.55 EPS. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president directly owned 25,796 shares of the company’s stock, valued at $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,587 shares of company stock valued at $3,989,936 in the last three months. 1.00% of the stock is owned by corporate insiders.

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.