First Commonwealth Financial Corp PA Has $605,000 Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

First Commonwealth Financial Corp PA reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 18.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,060 shares of the financial services provider’s stock after selling 909 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Intercontinental Exchange were worth $605,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sierra Ocean LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $25,000. Redwood Park Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $33,000. Lee Danner & Bass Inc. acquired a new position in Intercontinental Exchange in the fourth quarter worth approximately $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $40,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $45,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Lynn C. Martin sold 4,155 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $165.60, for a total transaction of $688,068.00. Following the sale, the insider now directly owns 57,376 shares in the company, valued at approximately $9,501,465.60. The trade was a 6.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Foley sold 10,580 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the completion of the transaction, the senior vice president now directly owns 21,992 shares of the company’s stock, valued at $3,661,008.24. This trade represents a 32.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,931 shares of company stock worth $10,492,868 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $158.34 on Friday. The firm’s 50-day moving average is $167.27 and its 200-day moving average is $160.51. The company has a market cap of $90.97 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 2.10 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $177.45.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.21%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 40.17%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.47.

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.