Amalgamated Bank Lowers Position in Intercontinental Exchange Inc (ICE)

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Amalgamated Bank trimmed its position in Intercontinental Exchange Inc (NYSE:ICE) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,228 shares of the financial services provider’s stock after selling 2,285 shares during the quarter. Amalgamated Bank’s holdings in Intercontinental Exchange were worth $5,818,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ICE. CI Investments Inc. acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $71,000. Millennium Management LLC grew its position in shares of Intercontinental Exchange by 153.4% in the 4th quarter. Millennium Management LLC now owns 3,674,867 shares of the financial services provider’s stock valued at $276,828,000 after purchasing an additional 2,224,434 shares during the period. Kaizen Advisory LLC grew its position in shares of Intercontinental Exchange by 15.9% in the 4th quarter. Kaizen Advisory LLC now owns 1,572 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 216 shares during the period. GQG Partners LLC grew its position in shares of Intercontinental Exchange by 12.2% in the 4th quarter. GQG Partners LLC now owns 3,106,927 shares of the financial services provider’s stock valued at $234,230,000 after purchasing an additional 336,959 shares during the period. Finally, Premier Asset Management LLC grew its position in shares of Intercontinental Exchange by 1.7% in the 4th quarter. Premier Asset Management LLC now owns 171,905 shares of the financial services provider’s stock valued at $12,950,000 after purchasing an additional 2,795 shares during the period. Institutional investors own 90.01% of the company’s stock.

In other news, CEO Jeffrey C. Sprecher sold 92,502 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $74.33, for a total transaction of $6,875,673.66. Following the sale, the chief executive officer now owns 1,553,471 shares in the company, valued at approximately $115,469,499.43. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James W. Namkung sold 1,307 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $74.84, for a total value of $97,815.88. The disclosure for this sale can be found here. Insiders sold a total of 196,163 shares of company stock worth $14,791,398 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Thursday, November 29th. Citigroup upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and set a $75.63 price objective for the company in a research report on Tuesday, January 22nd. Atlantic Securities assumed coverage on Intercontinental Exchange in a research report on Wednesday, November 28th. They issued an “overweight” rating for the company. ValuEngine lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Intercontinental Exchange in a research report on Thursday, February 7th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $85.55.

NYSE ICE opened at $73.78 on Tuesday. The company has a market capitalization of $41.36 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 2.01 and a beta of 0.48. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.38. Intercontinental Exchange Inc has a 52 week low of $67.70 and a 52 week high of $82.65.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 7th. The financial services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Intercontinental Exchange had a return on equity of 12.23% and a net margin of 31.68%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. As a group, equities analysts expect that Intercontinental Exchange Inc will post 3.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, September 13th. Intercontinental Exchange’s payout ratio is 30.64%.

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Intercontinental Exchange Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

Further Reading: Insider Trading – What You Need to Know

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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