Amalgamated Bank trimmed its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,513 shares of the financial services provider’s stock after selling 2,283 shares during the quarter. Amalgamated Bank’s holdings in Intercontinental Exchange were worth $5,955,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of ICE. Jefferies Group LLC bought a new position in Intercontinental Exchange in the third quarter worth approximately $2,797,000. Port Capital LLC boosted its position in Intercontinental Exchange by 2.3% during the 3rd quarter. Port Capital LLC now owns 256,894 shares of the financial services provider’s stock valued at $19,239,000 after acquiring an additional 5,839 shares in the last quarter. Evercore Wealth Management LLC boosted its position in Intercontinental Exchange by 3.7% during the 3rd quarter. Evercore Wealth Management LLC now owns 18,902 shares of the financial services provider’s stock valued at $1,416,000 after acquiring an additional 668 shares in the last quarter. First Republic Investment Management Inc. boosted its position in Intercontinental Exchange by 2.8% during the 3rd quarter. First Republic Investment Management Inc. now owns 122,007 shares of the financial services provider’s stock valued at $9,137,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Intercontinental Exchange during the 3rd quarter valued at $2,738,000. Hedge funds and other institutional investors own 89.09% of the company’s stock.
Intercontinental Exchange stock opened at $78.55 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $44.74 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.25 and a beta of 0.50. Intercontinental Exchange Inc has a 1-year low of $66.92 and a 1-year high of $82.65.
Intercontinental Exchange announced that its board has authorized a share buyback program on Wednesday, October 31st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several analysts have issued reports on ICE shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $91.00 target price on shares of Intercontinental Exchange in a research report on Friday, October 12th. They noted that the move was a valuation call. Atlantic Securities started coverage on Intercontinental Exchange in a research report on Wednesday, November 28th. They set an “overweight” rating on the stock. Citigroup set a $80.00 target price on Intercontinental Exchange and gave the company a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research cut Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, November 14th. Finally, Barclays increased their target price on Intercontinental Exchange from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, November 1st. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $84.50.
In other news, COO Mark Wassersug sold 7,903 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $79.13, for a total value of $625,364.39. Following the completion of the sale, the chief operating officer now owns 36,982 shares of the company’s stock, valued at approximately $2,926,385.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Charles A. Vice sold 35,000 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $75.06, for a total value of $2,627,100.00. Following the completion of the sale, the insider now directly owns 416,412 shares of the company’s stock, valued at approximately $31,255,884.72. The disclosure for this sale can be found here. Insiders sold a total of 134,764 shares of company stock valued at $10,477,825 in the last three months. Insiders own 1.50% of the company’s stock.
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.
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