Citigroup Inc. Cuts Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Citigroup Inc. decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,007,005 shares of the financial services provider’s stock after selling 46,868 shares during the period. Citigroup Inc. owned about 0.18% of Intercontinental Exchange worth $115,625,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Park National Corp OH lifted its stake in Intercontinental Exchange by 3.1% in the third quarter. Park National Corp OH now owns 185,875 shares of the financial services provider’s stock valued at $21,343,000 after purchasing an additional 5,564 shares during the last quarter. Palisade Capital Management LLC NJ lifted its stake in Intercontinental Exchange by 0.6% in the second quarter. Palisade Capital Management LLC NJ now owns 201,125 shares of the financial services provider’s stock valued at $23,874,000 after purchasing an additional 1,228 shares during the last quarter. TPI Fund Managers Ltd lifted its stake in Intercontinental Exchange by 0.6% in the third quarter. TPI Fund Managers Ltd now owns 206,049 shares of the financial services provider’s stock valued at $23,659,000 after purchasing an additional 1,250 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Intercontinental Exchange by 2.8% during the second quarter. Parametric Portfolio Associates LLC now owns 2,152,616 shares of the financial services provider’s stock worth $255,516,000 after acquiring an additional 59,605 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Intercontinental Exchange by 61.4% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 182,022 shares of the financial services provider’s stock worth $20,900,000 after acquiring an additional 69,229 shares in the last quarter. Institutional investors and hedge funds own 86.63% of the company’s stock.

Intercontinental Exchange stock opened at $126.60 on Friday. The stock has a market cap of $71.33 billion, a P/E ratio of 23.40, a PEG ratio of 1.87 and a beta of 0.82. Intercontinental Exchange, Inc. has a fifty-two week low of $108.95 and a fifty-two week high of $139.79. The firm’s fifty day moving average price is $133.75 and its 200-day moving average price is $125.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 28th. The financial services provider reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.07. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Intercontinental Exchange had a return on equity of 13.57% and a net margin of 33.69%. The firm’s revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Friday, December 17th were paid a $0.33 dividend. The ex-dividend date was Thursday, December 16th. This represents a $1.32 dividend on an annualized basis and a yield of 1.04%. Intercontinental Exchange’s dividend payout ratio is presently 24.40%.

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,559 shares of the company’s stock in a transaction dated Friday, October 29th. The shares were sold at an average price of $135.09, for a total transaction of $210,605.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark Wassersug sold 1,072 shares of the company’s stock in a transaction dated Friday, December 10th. The shares were sold at an average price of $135.20, for a total transaction of $144,934.40. The disclosure for this sale can be found here. In the last three months, insiders sold 74,910 shares of company stock worth $10,089,007. 1.30% of the stock is owned by insiders.

Several research firms have issued reports on ICE. Rosenblatt Securities increased their target price on Intercontinental Exchange from $138.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, October 29th. Jefferies Financial Group began coverage on Intercontinental Exchange in a research report on Monday, October 25th. They set a “buy” rating and a $161.00 target price on the stock. Citigroup increased their target price on Intercontinental Exchange from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, December 16th. Deutsche Bank Aktiengesellschaft dropped their target price on Intercontinental Exchange from $172.00 to $167.00 in a research report on Thursday. Finally, Bank of America initiated coverage on shares of Intercontinental Exchange in a report on Thursday, December 16th. They issued a “neutral” rating and a $158.00 price target on the stock. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus target price of $152.44.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc engages in the management of online marketplace. It operates through the following segments: Exchanges; Fixed Income and Data Services; and Mortgage Technology. The company was founded by Jeffrey C. Sprecher in May 2000 and is headquartered in Atlanta, GA.

Read More: Lock-Up Period Expiration

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

Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.