STAR Financial Bank Lowers Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

STAR Financial Bank reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 13.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,779 shares of the financial services provider’s stock after selling 427 shares during the period. STAR Financial Bank’s holdings in Intercontinental Exchange were worth $380,000 at the end of the most recent quarter.

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

Intercontinental Exchange Stock Up 0.2 %

Shares of Intercontinental Exchange stock opened at $161.96 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The business has a 50-day moving average of $153.01 and a 200-day moving average of $141.55. The company has a market capitalization of $92.90 billion, a PE ratio of 37.15, a P/E/G ratio of 2.82 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the business earned $1.43 EPS. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Argus reaffirmed a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Citigroup increased their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $154.93.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 1,941 shares of the 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 document filed with the SEC, which is available at this link. In other news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at $2,666,400. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $311,899.29. Following the transaction, the director now owns 26,908 shares of the company’s stock, valued at $4,323,846.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,346 shares of company stock worth $9,472,911. Corporate insiders own 1.10% of the company’s stock.

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.