GAMMA Investing LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

GAMMA Investing LLC purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,353 shares of the financial services provider’s stock, valued at approximately $427,000.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Intercontinental Exchange by 2.2% during the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock valued at $5,162,041,000 after purchasing an additional 1,012,034 shares during the last quarter. Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 219.8% during the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after buying an additional 8,348,126 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Intercontinental Exchange by 3.9% in the third quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock worth $832,623,000 after buying an additional 282,963 shares during the period. Invesco Ltd. increased its position in shares of Intercontinental Exchange by 21.1% in the third quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock worth $668,231,000 after acquiring an additional 1,058,536 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Intercontinental Exchange by 3.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,847,229 shares of the financial services provider’s stock valued at $533,292,000 after acquiring an additional 173,236 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.1 %

NYSE ICE traded up $0.17 during trading on Wednesday, reaching $132.50. The company’s stock had a trading volume of 1,090,948 shares, compared to its average volume of 2,373,746. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $75.87 billion, a PE ratio of 31.51, a PEG ratio of 2.15 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The business has a 50-day moving average price of $136.16 and a 200-day moving average price of $124.95.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s payout ratio is currently 42.86%.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent analyst reports. Raymond James raised their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. UBS Group lifted their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, February 12th. Rosenblatt Securities upped their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Barclays raised their price objective on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Piper Sandler upped their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $148.08.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the transaction, the chief financial officer now owns 12,061 shares in the company, valued at $1,640,296. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Warren Gardiner sold 2,176 shares of Intercontinental Exchange stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $136.00, for a total value of $295,936.00. Following the transaction, the chief financial officer now directly owns 12,061 shares in the company, valued at $1,640,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 27,970 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total value of $3,768,677.80. Following the sale, the president now owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is owned by corporate insiders.

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.