Citizens Financial Group Inc. RI Reduces Holdings in Intercontinental Exchange Inc. $ICE

Citizens Financial Group Inc. RI decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 46.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,566 shares of the financial services provider's stock after selling 28,265 shares during the period. Citizens Financial Group Inc. RI's holdings in Intercontinental Exchange were worth $5,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ICE. Midwest Trust Co raised its position in Intercontinental Exchange by 4.5% in the 1st quarter. Midwest Trust Co now owns 4,344 shares of the financial services provider's stock worth $683,000 after purchasing an additional 188 shares during the period. Fifth Third Bancorp lifted its stake in Intercontinental Exchange by 198.1% in the first quarter. Fifth Third Bancorp now owns 206,278 shares of the financial services provider's stock worth $32,443,000 after purchasing an additional 137,074 shares during the last quarter. Markel Group Inc. boosted its position in shares of Intercontinental Exchange by 38.3% during the first quarter. Markel Group Inc. now owns 28,870 shares of the financial services provider's stock valued at $4,541,000 after buying an additional 8,000 shares during the period. WealthShield Partners LLC boosted its position in shares of Intercontinental Exchange by 6.7% during the first quarter. WealthShield Partners LLC now owns 20,389 shares of the financial services provider's stock valued at $3,207,000 after buying an additional 1,287 shares during the period. Finally, Darwin Wealth Management LLC grew its stake in shares of Intercontinental Exchange by 30.6% during the first quarter. Darwin Wealth Management LLC now owns 16,611 shares of the financial services provider's stock valued at $2,613,000 after buying an additional 3,889 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insiders Place Their Bets

In other news, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the transaction, the director owned 20,132 shares of the company's stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 4,271 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This represents a 6.18% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Stock Down 0.3%

Shares of NYSE ICE opened at $134.91 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $76.29 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.36 and a beta of 0.94. The stock has a 50 day moving average price of $142.48 and a 200 day moving average price of $155.55. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange's revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 earnings per share. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ICE shares. UBS Group reduced their price target on Intercontinental Exchange from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. Weiss Ratings lowered Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. Morgan Stanley decreased their target price on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating for the company in a research report on Friday. Finally, The Goldman Sachs Group lowered their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $183.33.

Key Headlines Impacting Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Barclays reiterated an Overweight view and raised its price target to $180, while UBS and Goldman Sachs recently also issued bullish targets, signaling Wall Street still sees upside in ICE’s core exchange and data businesses.
• Positive Sentiment: Social-media and market commentary continue to highlight ICE’s strong earnings growth, relatively low valuation versus peers, and expansion initiatives in futures and tokenized equities, which support the long-term bull case.
• Neutral Sentiment: ICE’s coffee futures market is in the spotlight after the company raised margin requirements for coffee trading, contributing to sharp swings in arabica and robusta coffee prices. That move is boosting attention on ICE’s role in commodities markets, though the direct stock impact is less clear.
• Neutral Sentiment: Recent commentary also notes ICE’s Q1 revenue grew 13.5% year over year to about $3.7 billion, showing the business remains fundamentally healthy ahead of its next earnings update.
• Negative Sentiment: Morgan Stanley cut its price target to $163 from $187 and kept an Equal Weight rating, reflecting more cautious near-term expectations for the stock.
• Negative Sentiment: Analysts have also pointed to softer June volume trends and weaker trading activity in some futures segments, which has led to estimate cuts and is weighing on investor sentiment before ICE’s late-July earnings report.
• Negative Sentiment: Insider selling remains a mild overhang, with ICE executives and directors having made no open-market purchases over the past six months.

About Intercontinental Exchange

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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