Trust Co. of Vermont Invests $6.97 Million in Intercontinental Exchange Inc. $ICE

Trust Co. of Vermont bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, Holdings Channel reports. The fund bought 56,657 shares of the financial services provider’s stock, valued at approximately $6,975,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange during the fourth quarter worth approximately $25,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $30,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the transaction, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,376 shares of company stock worth $2,746,946 over the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $154.62 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $86.80 billion, a PE ratio of 21.84, a P/E/G ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.72. The business’s 50-day moving average price is $140.90 and its two-hundred day moving average price is $151.97.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the company earned $1.81 EPS. Intercontinental Exchange’s revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on ICE shares. Barclays reissued an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen reiterated a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a report on Friday, July 31st. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, The Goldman Sachs Group dropped their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $183.33.

About Intercontinental Exchange

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.