Cibc Bank USA grew its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 27.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,824 shares of the financial services provider’s stock after buying an additional 835 shares during the period. Cibc Bank USA’s holdings in Intercontinental Exchange were worth $288,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Intercontinental Wealth Advisors LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $25,000. Gradient Investments LLC boosted its position in shares of Intercontinental Exchange by 432.8% in the fourth quarter. Gradient Investments LLC now owns 357 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 290 shares during the period. Ruggie Capital Group bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $29,000. Moody National Bank Trust Division bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $30,000. Finally, Highwater Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $35,000. 89.80% of the stock is owned by institutional investors.
ICE stock opened at $76.13 on Wednesday. The stock has a market capitalization of $43.29 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.05 and a beta of 0.47. Intercontinental Exchange Inc has a 52 week low of $67.70 and a 52 week high of $82.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.01.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, September 13th. Intercontinental Exchange’s payout ratio is 26.74%.
Intercontinental Exchange declared that its Board of Directors has approved a stock buyback program on Wednesday, October 31st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $85.50 target price on shares of Intercontinental Exchange in a research report on Monday. Wells Fargo & Co reaffirmed a “hold” rating on shares of Intercontinental Exchange in a research note on Thursday, February 7th. Citigroup raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and set a $75.63 price target for the company in a research note on Tuesday, January 22nd. Zacks Investment Research downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. Finally, Goldman Sachs Group downgraded Intercontinental Exchange from a “conviction-buy” rating to a “buy” rating in a research note on Friday, January 4th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $85.78.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 35,000 shares of the business’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $75.26, for a total transaction of $2,634,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,500 shares of the business’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $75.42, for a total value of $188,550.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,506 shares of company stock valued at $9,346,172. Insiders own 1.50% of the company’s stock.
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Intercontinental Exchange Company 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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