First Citizens Bank & Trust Co. Sells 972 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

First Citizens Bank & Trust Co. lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% during the fourth quarter, Holdings Channel reports. The fund owned 38,884 shares of the financial services provider’s stock after selling 972 shares during the period. First Citizens Bank & Trust Co.’s holdings in Intercontinental Exchange were worth $5,794,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. State Street Corp boosted its stake in shares of Intercontinental Exchange by 1.2% in the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after purchasing an additional 281,503 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after acquiring an additional 169,922 shares during the period. FMR LLC raised its position in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Parnassus Investments LLC raised its position in shares of Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after acquiring an additional 299,037 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after acquiring an additional 390,332 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Bank of America raised their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Barclays dropped their target price 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The stock was 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 approximately $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

NYSE ICE opened at $157.52 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99. The company has a market capitalization of $90.45 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. The firm’s 50 day moving average is $152.98 and its 200-day moving average is $155.98.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the business earned $1.46 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current fiscal year.

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.