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:ICE) by 6.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,887 shares of the financial services provider’s stock after purchasing an additional 3,761 shares during the period. Citizens Financial Group Inc. RI’s holdings in Intercontinental Exchange were worth $9,257,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Simplicity Wealth LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $346,000. NTV Asset Management LLC bought a new position in Intercontinental Exchange during the 3rd quarter valued at about $1,000,000. Sowell Financial Services LLC grew its holdings in Intercontinental Exchange by 27.0% during the 3rd quarter. Sowell Financial Services LLC now owns 3,265 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 694 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in Intercontinental Exchange by 107.3% during the 3rd quarter. Evergreen Capital Management LLC now owns 8,212 shares of the financial services provider’s stock valued at $1,248,000 after purchasing an additional 4,250 shares during the last quarter. Finally, Mascoma Wealth Management LLC raised its position in Intercontinental Exchange by 45.8% in the 3rd quarter. Mascoma Wealth Management LLC now owns 328 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 103 shares during the period. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ICE shares. TD Cowen raised their price objective on shares of Intercontinental Exchange from $166.00 to $167.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. Bank of America boosted their target price on Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $178.00 price target (up from $169.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Morgan Stanley raised their price target on Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $186.31.

Intercontinental Exchange Trading Down 0.7%

NYSE ICE opened at $162.73 on Friday. The stock has a market cap of $91.36 billion, a PE ratio of 22.98, a PEG ratio of 1.50 and a beta of 0.94. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $176.05. The company’s 50-day moving average price is $157.26 and its 200-day moving average price is $150.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $1.81 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.20 earnings per share for the current year.

Insider Activity

In other news, General Counsel Andrew Surdykowski sold 4,574 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the completion of the sale, the general counsel owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. The trade was a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Edmonds sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total value of $802,950.00. Following the completion of the sale, the insider owned 14,367 shares of the company’s stock, valued at $2,307,196.53. The trade was a 25.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 41,179 shares of company stock valued at $6,473,715. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.