Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Grove Bank & Trust

Grove Bank & Trust trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 50.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,766 shares of the financial services provider's stock after selling 2,774 shares during the quarter. Grove Bank & Trust's holdings in Intercontinental Exchange were worth $412,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ICE. Fairscale Capital LLC bought a new position in Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Wolff Wiese Magana LLC raised its position in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock worth $25,000 after purchasing an additional 147 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange during the third quarter valued at about $26,000. Financial Management Professionals Inc. increased its holdings 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 purchasing an additional 87 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Intercontinental Exchange in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Activity at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares of the company's stock, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were 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 $24,986,080. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,795 shares of company stock valued at $2,120,572 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $1.16 during trading hours on Monday, reaching $149.07. The company had a trading volume of 3,301,963 shares, compared to its average volume of 2,416,945. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a fifty day moving average of $153.20 and a 200-day moving average of $155.73. The company has a market capitalization of $85.59 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.29 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 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 analysts' expectations of $2.35 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. Intercontinental Exchange's revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current year.

Analysts Set New Price Targets

ICE has been the subject of several research analyst reports. Bank of America raised their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Barclays lowered their price target on shares of Intercontinental Exchange from $187.00 to $179.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a "hold" rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus target price of $175.27.

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.