Penobscot Investment Management Company Inc. Has $13.66 Million Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Penobscot Investment Management Company Inc. lessened its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,165 shares of the financial services provider’s stock after selling 805 shares during the quarter. Intercontinental Exchange comprises about 1.3% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 20th largest position. Penobscot Investment Management Company Inc.’s holdings in Intercontinental Exchange were worth $13,656,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ICE. REAP Financial Group LLC lifted its stake in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 91 shares during the period. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $29,000. Rakuten Securities Inc. lifted its stake in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares during the period. Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the first quarter valued at $31,000. Finally, Redwood Park Advisors LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.1%

Shares of Intercontinental Exchange stock opened at $180.61 on Thursday. Intercontinental Exchange Inc. has a 1 year low of $136.21 and a 1 year high of $181.65. The business has a 50-day moving average of $174.03 and a two-hundred day moving average of $165.23. The company has a market capitalization of $103.60 billion, a P/E ratio of 37.39, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the company earned $1.48 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have weighed in on ICE. Morgan Stanley increased their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Barclays increased their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Bank of America cut their target price on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $188.46.

Insiders Place Their Bets

In related news, insider Christopher Scott Edmonds sold 552 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total transaction of $96,335.04. Following the completion of the transaction, the insider now directly owns 15,658 shares in the company, valued at approximately $2,732,634.16. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the transaction, the general counsel now owns 48,480 shares of the company’s stock, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 227,954 shares of company stock worth $40,796,663 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Company 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.