Intercontinental Exchange, Inc. (NYSE:ICE) Holdings Raised by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 265,057 shares of the financial services provider’s stock after buying an additional 78 shares during the period. Gateway Investment Advisers LLC’s holdings in Intercontinental Exchange were worth $45,722,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ICE. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth $1,196,258,000. Royal Bank of Canada increased its position in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after purchasing an additional 3,678,384 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $406,728,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Intercontinental Exchange by 24,394.4% during the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock valued at $3,906,700,000 after buying an additional 2,255,507 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the transaction, the chief executive officer now owns 2,101,705 shares of the company’s stock, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Martha A. Tirinnanzi sold 397 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the sale, the director now directly owns 4,526 shares of the company’s stock, valued at approximately $801,599.86. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 226,354 shares of company stock valued at $40,512,695. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

ICE has been the subject of several recent research reports. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Barclays boosted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods increased their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Bank of America reduced their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $188.46.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $178.70 on Friday. The firm has a market capitalization of $102.51 billion, a PE ratio of 37.38, a PEG ratio of 2.10 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 1 year low of $132.93 and a 1 year high of $180.89. The firm’s fifty day simple moving average is $168.60 and its 200 day simple moving average is $163.40.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

About Intercontinental Exchange

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.