Stock Yards Bank & Trust Co. Sells 1,328 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 18.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,879 shares of the financial services provider’s stock after selling 1,328 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Intercontinental Exchange were worth $805,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Intercontinental Exchange by 8.5% in the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock valued at $3,253,000 after acquiring an additional 1,991 shares in the last quarter. Point72 Europe London LLP raised its holdings in shares of Intercontinental Exchange by 10.9% in the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after acquiring an additional 6,500 shares in the last quarter. Perpetual Ltd raised its holdings in shares of Intercontinental Exchange by 0.4% in the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after acquiring an additional 6,272 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Intercontinental Exchange by 819.7% in the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after acquiring an additional 122,169 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ICE. Barclays lifted their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Citigroup lifted their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday. Finally, StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.36.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the sale, the chief executive officer now owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,096 shares of company stock worth $9,593,983. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $162.81 on Wednesday. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The firm has a market capitalization of $93.39 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day simple moving average is $155.02 and its 200-day simple moving average is $142.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

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.