57,126 Shares in Intercontinental Exchange Inc. $ICE Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 57,126 shares of the financial services provider’s stock, valued at approximately $7,033,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at $25,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange during the 4th quarter worth $28,000. Swiss RE Ltd. bought a new stake in Intercontinental Exchange during the 4th quarter worth $28,000. Lloyd Advisory Services LLC. acquired a new position in Intercontinental Exchange in the 4th quarter worth about $30,000. Finally, Kemnay Advisory Services Inc. bought a new position in Intercontinental Exchange in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ICE shares. Piper Sandler reduced their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. UBS Group reissued a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Price Performance

Shares of ICE opened at $154.62 on Tuesday. The business has a 50-day moving average of $140.90 and a 200-day moving average of $151.97. 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 company has a market capitalization of $86.80 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.72.

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

Insider Buying and Selling

In other news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction 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 sale, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 18,376 shares of company stock worth $2,746,946. Corporate insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

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.