Citizens Financial Group Inc. RI Makes New $233,000 Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Citizens Financial Group Inc. RI acquired a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,695 shares of the financial services provider’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pettyjohn Wood & White Inc. lifted its holdings in shares of Intercontinental Exchange by 0.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after acquiring an additional 75 shares during the last quarter. Busey Bank lifted its holdings in shares of Intercontinental Exchange by 3.4% in the 1st quarter. Busey Bank now owns 2,439 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 80 shares during the last quarter. Western Pacific Wealth Management LP lifted its holdings in shares of Intercontinental Exchange by 4.9% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 80 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Intercontinental Exchange by 16.4% in the 1st quarter. Spire Wealth Management now owns 582 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 82 shares during the last quarter. Finally, PDS Planning Inc lifted its holdings in shares of Intercontinental Exchange by 2.8% in the 1st quarter. PDS Planning Inc now owns 3,092 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 83 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.8 %

Shares of Intercontinental Exchange stock opened at $149.85 on Friday. The firm’s 50 day moving average price is $141.10 and its 200-day moving average price is $136.39. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $153.28. The company has a market cap of $85.95 billion, a P/E ratio of 34.37, a PEG ratio of 2.68 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 EPS. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.20%. The ex-dividend date is Monday, September 16th. Intercontinental Exchange’s dividend payout ratio is presently 41.28%.

Analyst Upgrades and Downgrades

ICE has been the subject of several analyst reports. Citigroup raised their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Barclays lifted their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $153.86.

Insiders Place Their Bets

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at $2,675,400. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,992 shares of company stock valued at $9,197,801. Insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

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.