Gulf International Bank UK Ltd trimmed its position in Intercontinental Exchange (NYSE:ICE) by 0.7% in the 1st quarter, Holdings Channel reports. The firm owned 186,862 shares of the financial services provider’s stock after selling 1,402 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Intercontinental Exchange were worth $13,551,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth about $109,000. Valeo Financial Advisors LLC raised its stake in shares of Intercontinental Exchange by 257.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,172 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth about $122,000. Bedel Financial Consulting Inc. purchased a new position in shares of Intercontinental Exchange in the first quarter worth about $127,000. Finally, Cerebellum GP LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth about $127,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.
Shares of Intercontinental Exchange opened at $72.27 on Thursday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $41.65 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.96 and a beta of 0.64. Intercontinental Exchange has a twelve month low of $71.45 and a twelve month high of $72.16.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $70.56, for a total value of $2,469,600.00. Following the sale, the insider now directly owns 417,507 shares of the company’s stock, valued at $29,459,293.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $72.75, for a total value of $181,875.00. Following the completion of the sale, the president now directly owns 64,154 shares in the company, valued at $4,667,203.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 262,632 shares of company stock worth $19,090,134. 1.50% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on ICE shares. Argus restated a “buy” rating and issued a $67.00 price objective (down from $80.00) on shares of Intercontinental Exchange in a research note on Friday, February 9th. Bank of America reduced their price objective on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. JPMorgan Chase upgraded Intercontinental Exchange from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $76.00 to $83.00 in a research report on Tuesday, February 20th. Zacks Investment Research cut Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Finally, Berenberg Bank began coverage on Intercontinental Exchange in a research report on Thursday, January 25th. They set a “buy” rating and a $90.00 price target for the company. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Intercontinental Exchange currently has an average rating of “Buy” and a consensus target price of $78.36.
About Intercontinental Exchange
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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