Eastern Bank Has $34.33 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Eastern Bank boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 14.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 203,731 shares of the financial services provider’s stock after buying an additional 25,980 shares during the quarter. Eastern Bank’s holdings in Intercontinental Exchange were worth $34,325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Fifth Third Wealth Advisors LLC increased its stake in shares of Intercontinental Exchange by 37.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock worth $2,008,000 after purchasing an additional 3,261 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its position in Intercontinental Exchange by 1.6% during the second quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock worth $152,603,000 after buying an additional 13,497 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in Intercontinental Exchange by 3.0% during the third quarter. Gateway Investment Advisers LLC now owns 273,010 shares of the financial services provider’s stock valued at $45,997,000 after buying an additional 8,006 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Intercontinental Exchange by 7.1% in the third quarter. Voya Investment Management LLC now owns 2,065,205 shares of the financial services provider’s stock worth $347,575,000 after buying an additional 136,299 shares during the last quarter. Finally, Canoe Financial LP bought a new stake in shares of Intercontinental Exchange during the 3rd quarter worth about $111,830,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $163.20, for a total transaction of $261,120.00. Following the sale, the senior vice president directly owned 24,196 shares in the company, valued at approximately $3,948,787.20. The trade was a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $153.65, for a total value of $241,537.80. Following the completion of the transaction, the chief financial officer directly owned 20,534 shares of the company’s stock, valued at approximately $3,155,049.10. This trade represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 166,068 shares of company stock worth $25,470,702 in the last three months. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $166.65 on Wednesday. The firm’s 50-day moving average is $158.26 and its 200-day moving average is $167.56. The company has a market cap of $95.02 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the business earned $1.55 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on ICE. TD Cowen reduced their target price on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 31st. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. UBS Group restated a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 7th. Morgan Stanley reiterated a “positive” rating and issued a $174.00 target price (up from $169.00) on shares of Intercontinental Exchange in a research note on Monday, December 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $191.80.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.