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

Gamco Investors INC. ET AL trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Intercontinental Exchange during the 3rd quarter valued at $25,000. Oakworth Capital Inc. boosted its stake in Intercontinental Exchange by 53.9% during the 2nd quarter. Oakworth Capital Inc. now owns 297 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 104 shares during the last quarter. First Capital Advisors Group LLC. bought a new position in Intercontinental Exchange during the 2nd quarter valued at $35,000. Pacifica Partners Inc. bought a new position in Intercontinental Exchange during the 3rd quarter valued at $37,000. Finally, Halpern Financial Inc. boosted its stake in Intercontinental Exchange by 545.6% during the 3rd quarter. Halpern Financial Inc. now owns 368 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 311 shares during the last quarter. 87.91% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 1.0 %

Intercontinental Exchange stock opened at $135.49 on Monday. The stock has a market cap of $75.74 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 2.75 and a beta of 1.01. 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 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 52 week low of $94.16 and a 52 week high of $135.98.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. On average, analysts expect that Intercontinental Exchange, Inc. will post 5.84 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Citigroup increased their price objective 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. Barclays upgraded shares of Intercontinental Exchange from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $120.00 to $148.00 in a research report on Monday, January 8th. Raymond James raised their price target on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $139.15.

Check Out Our Latest Analysis on Intercontinental Exchange

Insider Transactions at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $120.00, for a total value of $140,520.00. Following the transaction, the chief accounting officer now owns 18,677 shares of the company’s stock, valued at approximately $2,241,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 2,364 shares of Intercontinental Exchange 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 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 this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $120.00, for a total transaction of $140,520.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,677 shares in the company, valued at $2,241,240. The disclosure for this sale can be found here. Insiders have sold 82,384 shares of company stock valued at $10,222,586 in the last quarter. Insiders own 1.10% of the company’s stock.

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.

Further Reading

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

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