Horizon Bancorp Inc. IN Sells 334 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Horizon Bancorp Inc. IN reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 22.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,178 shares of the financial services provider’s stock after selling 334 shares during the period. Horizon Bancorp Inc. IN’s holdings in Intercontinental Exchange were worth $162,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. Scarborough Advisors LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC boosted its position in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange in the first quarter worth $26,000. Fortitude Family Office LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Finally, Stuart Chaussee & Associates Inc. bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $28,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ICE. Citigroup raised their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Barclays dropped their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price target for the stock from $143.00 to $167.00 in a research note on Monday. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.29.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded up $0.34 on Thursday, reaching $141.16. The stock had a trading volume of 2,070,106 shares, compared to its average volume of 2,469,574. The business’s 50 day moving average is $134.96 and its two-hundred day moving average is $133.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $141.59. The company has a market cap of $80.97 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 2.62 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. Intercontinental Exchange’s revenue was up 20.8% on a year-over-year basis. As a group, research analysts anticipate that Intercontinental Exchange, Inc. will post 5.96 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the purchase, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were purchased at an average price of $0.87 per share, with a total value of $305,265.60. Following the acquisition, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,506 shares of company stock valued at $609,374. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Profile

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.