Penobscot Investment Management Company Inc. Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Penobscot Investment Management Company Inc. cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,970 shares of the financial services provider’s stock after selling 1,382 shares during the quarter. Intercontinental Exchange accounts for about 1.1% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 23rd largest holding. Penobscot Investment Management Company Inc.’s holdings in Intercontinental Exchange were worth $11,916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ICE. Wealth Enhancement Advisory Services LLC increased its stake in shares of Intercontinental Exchange by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after purchasing an additional 366 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after purchasing an additional 4,787 shares during the period. M&T Bank Corp grew its holdings in Intercontinental Exchange by 33.2% during the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after buying an additional 11,648 shares in the last quarter. Avantra Family Wealth Inc. bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its holdings in shares of Intercontinental Exchange by 9.2% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after buying an additional 61,110 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ICE. Keefe, Bruyette & Woods boosted their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group upped their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Barclays increased their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Stock Up 0.2 %

Shares of ICE opened at $175.58 on Wednesday. The firm has a market capitalization of $100.88 billion, a P/E ratio of 36.73, a P/E/G ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $176.49. The firm has a fifty day moving average price of $165.53 and a 200-day moving average price of $160.26. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 40.17%.

Insider Transactions at Intercontinental Exchange

In other news, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the transaction, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is currently owned by corporate insiders.

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.