Wesbanco Bank Inc. Sells 489 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Wesbanco Bank Inc. decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 18.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,095 shares of the financial services provider’s stock after selling 489 shares during the quarter. Wesbanco Bank Inc.’s holdings in Intercontinental Exchange were worth $337,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange during the second quarter valued at approximately $25,000. Annapolis Financial Services LLC lifted its holdings in shares of Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the last quarter. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $25,000. International Assets Investment Management LLC purchased a new position in Intercontinental Exchange during the 2nd quarter worth $25,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange during the 1st quarter worth $26,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the sale, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,532 shares of company stock worth $1,358,709 in the last three months. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ICE shares. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 3rd. Citigroup increased their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday. Bank of America raised their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $165.13 on Thursday. The firm has a market capitalization of $94.72 billion, a P/E ratio of 37.87, a PEG ratio of 2.62 and a beta of 1.08. The stock has a 50-day simple moving average of $160.08 and a two-hundred day simple moving average of $145.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $167.23.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company earned $1.43 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current year.

Intercontinental Exchange Company 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.