Intercontinental Exchange Inc. $ICE Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its stake in Intercontinental Exchange Inc. (NYSE:ICEFree Report) by 314.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 61,033 shares of the financial services provider’s stock after acquiring an additional 46,304 shares during the period. Citizens Financial Group Inc. RI’s holdings in Intercontinental Exchange were worth $10,283,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Princeton Global Asset Management LLC purchased a new position in shares of Intercontinental Exchange during the second quarter worth $28,000. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $29,000. Private Wealth Management Group LLC lifted its stake in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 66 shares in the last quarter. Hilltop National Bank purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $31,000. Finally, Knuff & Co LLC grew its position in Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 2.5%

Shares of NYSE:ICE opened at $165.99 on Monday. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company’s 50 day moving average is $157.45 and its two-hundred day moving average is $167.77. The company has a market cap of $94.65 billion, a PE ratio of 30.24, a P/E/G ratio of 2.15 and a beta of 1.03. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 EPS. Equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Key Headlines Impacting Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

Wall Street Analysts Forecast Growth

ICE has been the topic of several research reports. JPMorgan Chase & Co. reduced 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Finally, TD Cowen decreased 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. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $191.80.

View Our Latest Analysis on ICE

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,221,150.80. This represents a 7.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Judith A. Sprieser sold 3,700 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $157.96, for a total value of $584,452.00. Following the completion of the transaction, the director owned 14,469 shares in the company, valued at approximately $2,285,523.24. The trade was a 20.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 166,068 shares of company stock worth $25,470,702 over the last three months. Company insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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