Stock Yards Bank & Trust Co. Decreases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Stock Yards Bank & Trust Co. reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,556 shares of the financial services provider’s stock after selling 1,957 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Intercontinental Exchange were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ICE. Commerzbank Aktiengesellschaft FI purchased a new position in Intercontinental Exchange in the fourth quarter worth about $256,000. Cetera Trust Company N.A bought a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $58,000. Handelsbanken Fonder AB boosted its holdings in shares of Intercontinental Exchange by 6.7% in the fourth quarter. Handelsbanken Fonder AB now owns 262,637 shares of the financial services provider’s stock worth $33,730,000 after buying an additional 16,520 shares during the last quarter. CWM LLC grew its position in Intercontinental Exchange by 2.5% during the fourth quarter. CWM LLC now owns 12,240 shares of the financial services provider’s stock valued at $1,572,000 after buying an additional 293 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Intercontinental Exchange by 7.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,925 shares of the financial services provider’s stock valued at $7,054,000 after buying an additional 3,599 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ICE shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $152.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Piper Sandler boosted their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Barclays raised their target price on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.08.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $131.65 on Tuesday. The company has a market cap of $75.39 billion, a P/E ratio of 31.35, a P/E/G ratio of 2.08 and a beta of 1.02. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week 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. The firm’s fifty day moving average is $136.20 and its two-hundred day moving average is $124.80.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up 24.5% compared to the same quarter last year. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is 42.86%.

Insider Activity

In related news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the completion of the transaction, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is currently owned by insiders.

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.