Morton Community Bank Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Morton Community Bank raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,753 shares of the financial services provider’s stock after purchasing an additional 1,097 shares during the quarter. Morton Community Bank’s holdings in Intercontinental Exchange were worth $3,388,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Scarborough Advisors LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC lifted its holdings in shares of Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares in the last quarter. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $25,000. International Assets Investment Management LLC bought a new stake in Intercontinental Exchange in the 2nd quarter worth about $25,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange in the 1st quarter worth about $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

NYSE ICE traded down $2.11 during trading hours on Friday, reaching $160.49. The company’s stock had a trading volume of 2,902,217 shares, compared to its average volume of 2,452,683. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $92.05 billion, a price-to-earnings ratio of 36.81, a PEG ratio of 2.84 and a beta of 1.08. The firm’s 50-day moving average price is $152.10 and its 200-day moving average price is $141.19.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the company posted $1.43 earnings per share. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insider Activity

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 1,941 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the completion of the transaction, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Judith A. Sprieser sold 1,941 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the transaction, the director now owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at $2,666,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,346 shares of company stock worth $9,472,911. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ICE. Argus reaffirmed a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price target for the company from $143.00 to $167.00 in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $154.93.

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.