Citizens Financial Group Inc. RI Makes New Investment in Intercontinental Exchange Inc. $ICE

Citizens Financial Group Inc. RI acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 57,126 shares of the financial services provider’s stock, valued at approximately $7,033,000.

Several other hedge funds also recently modified their holdings of the stock. UNIVEST FINANCIAL Corp bought a new position in Intercontinental Exchange during the second quarter worth $5,608,000. MidFirst Bank acquired a new stake in Intercontinental Exchange in the second quarter worth $268,000. BlackRock Inc. bought a new stake in Intercontinental Exchange in the second quarter valued at $6,245,085,000. Deutsche Bank AG acquired a new position in shares of Intercontinental Exchange during the second quarter valued at about $288,560,000. Finally, Perigon Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the second quarter valued at about $4,259,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, SVP Douglas Foley sold 7,300 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president directly owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares in the company, valued at $2,807,608.72. This represents a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,376 shares of company stock worth $2,746,946. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 0.1%

NYSE:ICE opened at $154.62 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $140.90 and a 200-day moving average of $151.97. The company has a market cap of $86.80 billion, a PE ratio of 21.84, a PEG ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.72.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ICE. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen reiterated a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Barclays restated an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Wall Street Zen lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange Company Profile

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.