Amalgamated Bank Sells 6,507 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Amalgamated Bank lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,222 shares of the financial services provider’s stock after selling 6,507 shares during the quarter. Amalgamated Bank’s holdings in Intercontinental Exchange were worth $18,009,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its stake in shares of Intercontinental Exchange by 4.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 41,212 shares of the financial services provider’s stock worth $4,534,000 after acquiring an additional 1,716 shares in the last quarter. Simon Quick Advisors LLC boosted its holdings in Intercontinental Exchange by 12.8% during the third quarter. Simon Quick Advisors LLC now owns 2,051 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 232 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Intercontinental Exchange by 2.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 35,309 shares of the financial services provider’s stock worth $3,885,000 after purchasing an additional 954 shares in the last quarter. Stonegate Investment Group LLC increased its stake in Intercontinental Exchange by 11.7% in the 3rd quarter. Stonegate Investment Group LLC now owns 2,096 shares of the financial services provider’s stock valued at $231,000 after buying an additional 220 shares during the last quarter. Finally, NorthRock Partners LLC lifted its position in shares of Intercontinental Exchange by 16.5% during the 3rd quarter. NorthRock Partners LLC now owns 3,139 shares of the financial services provider’s stock worth $345,000 after buying an additional 445 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO James W. Namkung sold 1,182 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Insiders sold a total of 157,832 shares of company stock valued at $21,499,127 in the last three months. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE traded up $3.96 during mid-day trading on Friday, hitting $130.50. The company had a trading volume of 3,990,207 shares, compared to its average volume of 2,426,097. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The company has a market capitalization of $74.73 billion, a price-to-earnings ratio of 31.07, a P/E/G ratio of 2.11 and a beta of 1.02. The stock’s 50-day moving average price is $135.17 and its 200-day moving average price is $125.68.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Analyst Ratings Changes

A number of brokerages recently commented on ICE. UBS Group increased their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods lowered their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays reduced their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Piper Sandler increased their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.92.

Intercontinental Exchange Company Profile

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.