Amalgamated Bank Raises Stake in Intercontinental Exchange Inc. (NYSE:ICE)

Amalgamated Bank boosted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,445 shares of the financial services provider's stock after acquiring an additional 1,797 shares during the period. Amalgamated Bank's holdings in Intercontinental Exchange were worth $19,224,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ICE. REAP Financial Group LLC lifted its position in Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares during the period. Tsfg LLC lifted its position in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares during the period. Menard Financial Group LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $29,000. Rakuten Securities Inc. lifted its position in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares during the period. Finally, Global Trust Asset Management LLC purchased a new position in Intercontinental Exchange during the 1st quarter valued at about $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ICE shares. Bank of America decreased their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, Barclays lifted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $188.46.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 552 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total transaction of $96,335.04. Following the completion of the sale, the insider now directly owns 15,658 shares in the company, valued at approximately $2,732,634.16. The trade was a 3.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director now owns 21,364 shares of the company's stock, valued at $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $181.74 on Monday. The company has a 50 day moving average price of $174.95 and a 200-day moving average price of $165.68. Intercontinental Exchange Inc. has a 52 week low of $136.25 and a 52 week high of $182.61. The firm has a market capitalization of $104.25 billion, a PE ratio of 37.63, a P/E/G ratio of 1.96 and a beta of 1.12. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the business posted $1.48 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is 39.75%.

Intercontinental Exchange 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.

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