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

Citizens Financial Group Inc. RI lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 11,250 shares of the financial services provider’s stock after selling 241 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Intercontinental Exchange were worth $1,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Independent Advisor Alliance lifted its holdings in shares of Intercontinental Exchange by 29.0% in the fourth quarter. Independent Advisor Alliance now owns 9,230 shares of the financial services provider’s stock valued at $1,375,000 after purchasing an additional 2,074 shares in the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of Intercontinental Exchange by 2.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 71 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange by 2.4% in the fourth quarter. Moran Wealth Management LLC now owns 5,149 shares of the financial services provider’s stock valued at $767,000 after purchasing an additional 120 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Intercontinental Exchange by 5.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,363 shares of the financial services provider’s stock valued at $37,456,000 after purchasing an additional 13,599 shares in the last quarter. Finally, NBT Bank N A NY lifted its holdings in shares of Intercontinental Exchange by 37.5% in the fourth quarter. NBT Bank N A NY now owns 12,373 shares of the financial services provider’s stock valued at $1,844,000 after purchasing an additional 3,374 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ICE shares. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Barclays boosted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $169.04 on Thursday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $175.41. The firm has a fifty day moving average of $160.64 and a 200-day moving average of $159.50. The firm has a market capitalization of $97.13 billion, a P/E ratio of 35.36, a PEG ratio of 2.10 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 40.17%.

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 17,104 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the transaction, the president now owns 155,174 shares of the company’s stock, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,313 shares of company stock valued at $11,113,733 over the last 90 days. Corporate 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.