Grove Bank & Trust Has $412,000 Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Grove Bank & Trust trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 50.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,766 shares of the financial services provider’s stock after selling 2,774 shares during the period. Grove Bank & Trust’s holdings in Intercontinental Exchange were worth $412,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ICE. Fairscale Capital LLC acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC raised its position in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Intercontinental Exchange in the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. boosted its position in Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $29,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $149.07 on Monday. The company has a 50-day simple moving average of $153.20 and a two-hundred day simple moving average of $155.63. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $167.99. The stock has a market capitalization of $85.59 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the company posted $1.46 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange, Inc. will post 6.06 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the sale, the general counsel now owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ICE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lifted their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Barclays decreased their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Bank of America upped their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $175.27.

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.