Ledyard National Bank Purchases Shares of 2,557 Intercontinental Exchange, Inc. (NYSE:ICE)

Ledyard National Bank purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,557 shares of the financial services provider’s stock, valued at approximately $328,000.

Several other institutional investors have also added to or reduced their stakes in ICE. Van ECK Associates Corp lifted its stake in shares of Intercontinental Exchange by 7.4% in the 4th quarter. Van ECK Associates Corp now owns 2,957,966 shares of the financial services provider’s stock valued at $379,892,000 after purchasing an additional 203,228 shares during the last quarter. Intrust Bank NA lifted its stake in shares of Intercontinental Exchange by 4.2% in the 4th quarter. Intrust Bank NA now owns 7,196 shares of the financial services provider’s stock valued at $924,000 after purchasing an additional 288 shares during the last quarter. Israel Discount Bank of New York lifted its stake in shares of Intercontinental Exchange by 25.8% in the 4th quarter. Israel Discount Bank of New York now owns 4,982 shares of the financial services provider’s stock valued at $640,000 after purchasing an additional 1,022 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in shares of Intercontinental Exchange by 5.5% in the 4th quarter. Gilbert & Cook Inc. now owns 3,636 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 188 shares during the last quarter. Finally, Stonebrook Private Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $731,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the stock in a transaction on Monday, March 4th. The stock was bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the sale, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock worth $21,454,204 in the last ninety days. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Trading Down 0.7 %

ICE traded down $0.86 during trading on Tuesday, hitting $129.92. 593,373 shares of the stock were exchanged, compared to its average volume of 2,354,243. The firm has a 50 day simple moving average of $135.74 and a 200 day simple moving average of $125.52. The firm has a market cap of $74.39 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 2.15 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted $1.25 EPS. The business’s revenue was up 24.5% compared to the same quarter last year. As a group, equities analysts expect that Intercontinental Exchange, Inc. will post 5.97 EPS for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.39%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s payout ratio is 42.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Bank of America decreased their price target on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Raymond James raised their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Citigroup raised their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Barclays raised their price target on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.08.

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.