Gabelli Funds LLC Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Gabelli Funds LLC lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 27.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,780 shares of the financial services provider’s stock after buying an additional 8,240 shares during the quarter. Gabelli Funds LLC’s holdings in Intercontinental Exchange were worth $5,779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICE. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after purchasing an additional 366 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Intercontinental Exchange by 6.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after buying an additional 4,787 shares in the last quarter. M&T Bank Corp boosted its stake in Intercontinental Exchange by 33.2% during the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after buying an additional 11,648 shares during the last quarter. Avantra Family Wealth Inc. purchased a new position in Intercontinental Exchange during the 4th quarter valued at approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its stake in Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after acquiring an additional 61,110 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total transaction of $965,757.88. Following the completion of the sale, the president now owns 164,041 shares in the company, valued at $27,183,234.11. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the transaction, the director now owns 21,364 shares in the company, valued at $3,396,876. This represents a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,931 shares of company stock valued at $10,492,868. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of a number of research reports. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Barclays increased their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Bank of America reduced their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, UBS Group boosted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $182.47.

Intercontinental Exchange Stock Down 0.1 %

Shares of NYSE:ICE opened at $158.34 on Friday. The business’s 50 day moving average is $167.27 and its 200 day moving average is $160.51. The stock has a market cap of $90.97 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $177.45. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.21%. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Intercontinental Exchange Company 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.