Amalgamated Bank boosted its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 9.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,397 shares of the financial services provider’s stock after purchasing an additional 6,593 shares during the quarter. Amalgamated Bank’s holdings in Intercontinental Exchange were worth $5,320,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. bought a new stake in Intercontinental Exchange during the 4th quarter worth about $109,000. Valeo Financial Advisors LLC raised its holdings in Intercontinental Exchange by 257.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,172 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth about $122,000. Cerebellum GP LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth about $127,000. Finally, Americafirst Capital Management LLC bought a new stake in Intercontinental Exchange during the 3rd quarter worth about $145,000. 90.42% of the stock is owned by hedge funds and other institutional investors.
Shares of Intercontinental Exchange Inc (ICE) opened at $73.08 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $42,750.00, a PE ratio of 24.86, a PEG ratio of 2.58 and a beta of 0.63. Intercontinental Exchange Inc has a 52 week low of $56.97 and a 52 week high of $76.14.
Intercontinental Exchange declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 2nd that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be given a $0.24 dividend. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 annualized dividend and a dividend yield of 1.31%. Intercontinental Exchange’s dividend payout ratio is presently 27.21%.
In related news, CEO Jeffrey C. Sprecher sold 132,245 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $73.34, for a total value of $9,698,848.30. Following the completion of the transaction, the chief executive officer now directly owns 1,454,661 shares in the company, valued at approximately $106,684,837.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Benjamin Jackson sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $72.75, for a total value of $181,875.00. Following the completion of the transaction, the president now owns 64,154 shares of the company’s stock, valued at $4,667,203.50. The disclosure for this sale can be found here. Insiders sold a total of 201,701 shares of company stock valued at $14,795,258 over the last quarter. 1.50% of the stock is owned by insiders.
Several analysts have weighed in on the company. JPMorgan Chase & Co. raised Intercontinental Exchange from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $76.00 to $83.00 in a report on Tuesday, February 20th. Argus reissued a “buy” rating and set a $67.00 price objective (down from $80.00) on shares of Intercontinental Exchange in a report on Friday, February 9th. Bank of America dropped their price objective on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Berenberg Bank started coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They issued a “buy” rating and a $90.00 price target for the company. Finally, Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $76.62.
Intercontinental Exchange Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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