Independence Bank of Kentucky Buys 3,022 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Independence Bank of Kentucky grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 20.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,564 shares of the financial services provider's stock after purchasing an additional 3,022 shares during the period. Independence Bank of Kentucky's holdings in Intercontinental Exchange were worth $2,617,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ICE. Cetera Investment Advisers lifted its position in Intercontinental Exchange by 3.2% in the 2nd quarter. Cetera Investment Advisers now owns 63,902 shares of the financial services provider's stock worth $8,748,000 after buying an additional 2,006 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth $7,978,000. AMF Tjanstepension AB boosted its position in Intercontinental Exchange by 14.5% during the third quarter. AMF Tjanstepension AB now owns 127,199 shares of the financial services provider's stock valued at $20,441,000 after purchasing an additional 16,130 shares during the last quarter. Czech National Bank increased its holdings in Intercontinental Exchange by 7.0% in the third quarter. Czech National Bank now owns 116,958 shares of the financial services provider's stock worth $18,788,000 after buying an additional 7,656 shares during the last quarter. Finally, Rockland Trust Co. bought a new position in Intercontinental Exchange during the third quarter valued at about $422,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 0.2 %

ICE stock traded up $0.38 during midday trading on Friday, reaching $159.82. The company's stock had a trading volume of 2,624,045 shares, compared to its average volume of 2,960,229. The business's 50-day simple moving average is $153.12 and its 200-day simple moving average is $156.49. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $91.77 billion, a PE ratio of 37.87, a price-to-earnings-growth ratio of 3.01 and a beta of 1.10. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $167.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $1.46 EPS. Intercontinental Exchange's quarterly revenue was up 17.3% compared to the same quarter last year. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com cut Intercontinental Exchange from a "hold" rating to a "sell" rating in a research report on Wednesday, January 8th. Raymond James downgraded shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 price objective for the company. in a report on Monday, October 14th. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods cut their price target on Intercontinental Exchange from $183.00 to $178.00 and set an "outperform" rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $175.27.

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction on Wednesday, January 15th. The shares were 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 of the company's stock, valued at $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is owned by company insiders.

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.