Crews Bank & Trust Invests $2.68 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Crews Bank & Trust purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 17,951 shares of the financial services provider’s stock, valued at approximately $2,675,000.

Several other institutional investors have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after acquiring an additional 366 shares during the period. M&T Bank Corp raised its position in Intercontinental Exchange by 33.2% during the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after purchasing an additional 11,648 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its stake in Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after purchasing an additional 61,110 shares during the last quarter. Toronto Dominion Bank lifted its stake in Intercontinental Exchange by 1.6% during the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock worth $49,888,000 after purchasing an additional 4,973 shares during the last quarter. Finally, Bright Rock Capital Management LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $4,470,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $157.25 on Thursday. The company has a market cap of $90.29 billion, a P/E ratio of 37.26, a PEG ratio of 2.95 and a beta of 1.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $153.07 and a two-hundred day moving average price of $156.32. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $1.46 EPS. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 EPS for the current year.

Analyst Ratings Changes

ICE has been the subject of a number of research reports. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a report on Monday, October 14th. Morgan Stanley increased their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. The Goldman Sachs Group lifted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Bank of America upped their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, the insider now owns 12,922 shares in the company, valued at approximately $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,795 shares of company stock valued at $2,120,572. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange 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.