Intercontinental Exchange Inc. $ICE Stock Holdings Lifted by Eastern Bank

Eastern Bank lifted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 59.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 177,751 shares of the financial services provider’s stock after buying an additional 66,398 shares during the quarter. Eastern Bank’s holdings in Intercontinental Exchange were worth $32,612,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Tsfg LLC lifted its position in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after buying an additional 103 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 143 shares during the last quarter. Activest Wealth Management lifted its position in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange in the 1st quarter worth about $30,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Intercontinental Exchange in the 1st quarter worth about $31,000. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel owned 46,293 shares of the company’s stock, valued at $8,255,430.69. The trade was a 7.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This represents a 13.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 240,956 shares of company stock worth $43,789,542. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Finally, Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.10.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $157.51 on Friday. The firm’s 50 day moving average is $174.01 and its 200-day moving average is $174.13. The stock has a market capitalization of $90.16 billion, a P/E ratio of 30.23, a P/E/G ratio of 1.94 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 EPS. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.