Gamco Investors INC. ET AL Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Gamco Investors INC. ET AL trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 10.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,465 shares of the financial services provider’s stock after selling 300 shares during the period. Gamco Investors INC. ET AL’s holdings in Intercontinental Exchange were worth $271,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Intercontinental Exchange by 1.3% during the second quarter. BlackRock Inc. now owns 42,188,650 shares of the financial services provider’s stock worth $4,770,693,000 after buying an additional 525,322 shares during the last quarter. Morgan Stanley grew its stake in Intercontinental Exchange by 18.9% in the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock worth $2,606,466,000 after acquiring an additional 4,044,744 shares during the period. State Street Corp grew its stake in shares of Intercontinental Exchange by 2.2% during the 2nd quarter. State Street Corp now owns 22,796,474 shares of the financial services provider’s stock valued at $2,577,825,000 after buying an additional 480,742 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Intercontinental Exchange by 45.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock worth $1,755,753,000 after purchasing an additional 5,354,161 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Intercontinental Exchange by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 10,503,361 shares of the financial services provider’s stock worth $1,092,660,000 after buying an additional 127,481 shares in the last quarter. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 2,364 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $126.00, for a total transaction of $297,864.00. Following the completion of the sale, the general counsel now owns 43,493 shares of the company’s stock, valued at $5,480,118. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $112.34, for a total transaction of $56,170.00. Following the sale, the chief financial officer now owns 15,025 shares of the company’s stock, valued at approximately $1,687,908.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,364 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $126.00, for a total value of $297,864.00. Following the transaction, the general counsel now directly owns 43,493 shares in the company, valued at approximately $5,480,118. The disclosure for this sale can be found here. Insiders have sold a total of 82,384 shares of company stock worth $10,222,586 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $135.49 on Monday. The company’s 50-day moving average price is $125.12 and its two-hundred day moving average price is $116.83. Intercontinental Exchange, Inc. has a 12 month low of $94.16 and a 12 month high of $135.98. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The firm has a market cap of $75.74 billion, a P/E ratio of 32.26, a P/E/G ratio of 2.75 and a beta of 1.01.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 5.84 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, March 14th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 1.33%. Intercontinental Exchange’s dividend payout ratio is currently 40.00%.

Analyst Ratings Changes

Several research firms recently commented on ICE. Citigroup increased their target price on shares of Intercontinental Exchange from $130.00 to $146.00 and gave the company a “buy” rating in a research note on Friday, January 12th. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Barclays upgraded shares of Intercontinental Exchange from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $120.00 to $148.00 in a research note on Monday, January 8th. Rosenblatt Securities raised their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Raymond James lifted their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.15.

Check Out Our Latest Stock Analysis on Intercontinental Exchange

About Intercontinental Exchange

(Free Report)

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.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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