Fulton Bank N.A. Has $535,000 Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Posted by Defense World Staff on Mar 18th, 2023

Fulton Bank N.A. boosted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,210 shares of the financial services provider’s stock after acquiring an additional 114 shares during the period. Fulton Bank N.A.’s holdings in Intercontinental Exchange were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. Cowa LLC bought a new position in Intercontinental Exchange during the third quarter worth about $27,000. IMA Wealth Inc. bought a new stake in shares of Intercontinental Exchange in the second quarter valued at about $28,000. WASHINGTON TRUST Co lifted its holdings in shares of Intercontinental Exchange by 173.9% in the third quarter. WASHINGTON TRUST Co now owns 315 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Evoke Wealth LLC lifted its holdings in shares of Intercontinental Exchange by 53.8% in the third quarter. Evoke Wealth LLC now owns 346 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 121 shares in the last quarter. Finally, Old North State Trust LLC bought a new stake in shares of Intercontinental Exchange in the third quarter valued at about $38,000. 87.28% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $97.00 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $88.60 and a 12 month high of $137.40. The stock’s 50 day moving average is $105.23 and its 200-day moving average is $101.44. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $54.21 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 3.39 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE – Get Rating) last posted its earnings results on Thursday, February 2nd. The financial services provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.01). Intercontinental Exchange had a net margin of 15.01% and a return on equity of 13.11%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the company posted $1.34 EPS. Intercontinental Exchange’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange, Inc. will post 5.4 EPS for the current year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be given a $0.42 dividend. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, March 16th. This represents a $1.68 annualized dividend and a dividend yield of 1.73%. Intercontinental Exchange’s dividend payout ratio is presently 59.14%.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total value of $167,680.00. Following the completion of the sale, the senior vice president now directly owns 21,481 shares in the company, valued at $2,251,208.80. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total value of $167,680.00. Following the completion of the sale, the senior vice president now directly owns 21,481 shares in the company, valued at $2,251,208.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 81,827 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $104.02, for a total value of $8,511,644.54. Following the completion of the sale, the chief executive officer now owns 1,203,104 shares of the company’s stock, valued at $125,146,878.08. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ICE. Keefe, Bruyette & Woods cut their price target on Intercontinental Exchange from $125.00 to $122.00 and set a “market perform” rating on the stock in a report on Wednesday, March 1st. Deutsche Bank Aktiengesellschaft lowered their target price on Intercontinental Exchange from $134.00 to $131.00 in a research report on Wednesday, January 11th. Rosenblatt Securities lifted their target price on Intercontinental Exchange from $164.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Morgan Stanley lifted their target price on Intercontinental Exchange from $116.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 11th. Finally, Raymond James lowered their target price on Intercontinental Exchange from $130.00 to $126.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $129.91.

About Intercontinental Exchange

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Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.