Trust Co. of Vermont Invests $6.97 Million in Intercontinental Exchange Inc. $ICE

Trust Co. of Vermont acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 56,657 shares of the financial services provider’s stock, valued at approximately $6,975,000.

Other institutional investors have also made changes to their positions in the company. ICONIQ Capital LLC boosted its holdings in Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 56 shares during the last quarter. Mission Wealth Management LP increased its stake in Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after buying an additional 62 shares during the last quarter. Evergreen Capital Management LLC lifted its position in Intercontinental Exchange by 1.5% during the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after buying an additional 63 shares in the last quarter. Johnson Financial Group LLC lifted its position in Intercontinental Exchange by 4.0% during the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock worth $277,000 after buying an additional 65 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Intercontinental Exchange by 33.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after buying an additional 68 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.1%

Shares of ICE stock opened at $154.62 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50-day moving average is $140.90 and its 200-day moving average is $151.97. The stock has a market cap of $86.80 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.72.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the business posted $1.81 EPS. Intercontinental Exchange’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 7,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president directly owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This trade represents a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 18,376 shares of company stock valued at $2,746,946. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ICE. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Piper Sandler decreased their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Wall Street Zen lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, UBS Group reiterated a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.33.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.