Eastern Bank Acquires New Position in Intercontinental Exchange Inc (NYSE:ICE)

Eastern Bank bought a new position in shares of Intercontinental Exchange Inc (NYSE:ICE) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 135,365 shares of the financial services provider’s stock, valued at approximately $10,307,000.

Several other large investors have also recently modified their holdings of the company. Cozad Asset Management Inc. increased its position in shares of Intercontinental Exchange by 1.6% during the 1st quarter. Cozad Asset Management Inc. now owns 63,472 shares of the financial services provider’s stock valued at $4,833,000 after purchasing an additional 986 shares during the last quarter. Baltimore Washington Financial Advisors Inc. boosted its stake in Intercontinental Exchange by 1.5% in the 1st quarter. Baltimore Washington Financial Advisors Inc. now owns 106,265 shares of the financial services provider’s stock worth $8,091,000 after purchasing an additional 1,560 shares during the period. IFM Investors Pty Ltd boosted its stake in Intercontinental Exchange by 14.1% in the 1st quarter. IFM Investors Pty Ltd now owns 37,865 shares of the financial services provider’s stock worth $2,883,000 after purchasing an additional 4,670 shares during the period. Moreno Evelyn V boosted its stake in Intercontinental Exchange by 1.3% in the 1st quarter. Moreno Evelyn V now owns 68,114 shares of the financial services provider’s stock worth $5,186,000 after purchasing an additional 895 shares during the period. Finally, Rosenbaum Jay D. boosted its stake in Intercontinental Exchange by 1.8% in the 1st quarter. Rosenbaum Jay D. now owns 7,975 shares of the financial services provider’s stock worth $607,000 after purchasing an additional 140 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Intercontinental Exchange stock traded up $0.56 during trading hours on Friday, reaching $81.36. The company had a trading volume of 1,627,951 shares, compared to its average volume of 2,631,363. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $45.56 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.50. Intercontinental Exchange Inc has a 12-month low of $69.33 and a 12-month high of $82.65.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.02. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Intercontinental Exchange had a return on equity of 12.22% and a net margin of 31.98%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Sell-side analysts expect that Intercontinental Exchange Inc will post 3.73 earnings per share for the current fiscal year.

In related news, CEO Jeffrey C. Sprecher sold 92,502 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $74.33, for a total transaction of $6,875,673.66. Following the sale, the chief executive officer now directly owns 1,553,471 shares in the company, valued at $115,469,499.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,200 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $81.00, for a total value of $97,200.00. Following the sale, the general counsel now owns 41,161 shares in the company, valued at $3,334,041. The disclosure for this sale can be found here. Over the last quarter, insiders sold 215,457 shares of company stock worth $16,327,598. Corporate insiders own 1.50% of the company’s stock.

Several research analysts have commented on the company. Bank of America set a $85.00 target price on Intercontinental Exchange and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Wells Fargo & Co lifted their price target on Intercontinental Exchange from $79.00 to $81.00 and gave the company a “market perform” rating in a research report on Thursday, April 4th. Deutsche Bank dropped their price target on Intercontinental Exchange from $84.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Finally, ValuEngine downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $85.55.

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Intercontinental Exchange Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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