Citizens Financial Group Inc. RI Boosts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Citizens Financial Group Inc. RI increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 343.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,509 shares of the financial services provider’s stock after buying an additional 5,814 shares during the period. Citizens Financial Group Inc. RI’s holdings in Intercontinental Exchange were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American National Bank increased its stake in shares of Intercontinental Exchange by 13.8% during the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 69 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in shares of Intercontinental Exchange by 3.4% during the second quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after acquiring an additional 73 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Intercontinental Exchange by 1.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock valued at $559,000 after acquiring an additional 74 shares in the last quarter. Founders Financial Securities LLC boosted its stake in shares of Intercontinental Exchange by 4.8% in the second quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 74 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. increased its position in shares of Intercontinental Exchange by 0.5% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at approximately $167,181,408.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,096 shares of company stock worth $9,593,983. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ICE. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday. Barclays increased their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Argus reaffirmed a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.36.

Intercontinental Exchange Price Performance

Shares of ICE opened at $162.81 on Wednesday. The firm has a 50-day simple moving average of $155.02 and a two-hundred day simple moving average of $142.35. The stock has a market cap of $93.39 billion, a PE ratio of 37.34, a P/E/G ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm earned $1.43 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

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.