GAMMA Investing LLC Purchases 2,255,507 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

GAMMA Investing LLC raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 24,394.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,264,753 shares of the financial services provider’s stock after acquiring an additional 2,255,507 shares during the period. Intercontinental Exchange makes up 0.7% of GAMMA Investing LLC’s portfolio, making the stock its 22nd biggest holding. GAMMA Investing LLC owned approximately 0.39% of Intercontinental Exchange worth $3,906,700,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Moody National Bank Trust Division boosted its holdings in Intercontinental Exchange by 1.3% during the first quarter. Moody National Bank Trust Division now owns 9,649 shares of the financial services provider’s stock valued at $1,664,000 after acquiring an additional 124 shares during the period. Versant Capital Management Inc boosted its holdings in Intercontinental Exchange by 27.5% during the first quarter. Versant Capital Management Inc now owns 760 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 164 shares during the period. Central Pacific Bank Trust Division boosted its holdings in Intercontinental Exchange by 13.1% during the first quarter. Central Pacific Bank Trust Division now owns 16,943 shares of the financial services provider’s stock valued at $2,923,000 after acquiring an additional 1,961 shares during the period. Chancellor Financial Group WB LP bought a new stake in Intercontinental Exchange during the fourth quarter valued at about $228,000. Finally, 111 Capital bought a new stake in Intercontinental Exchange during the fourth quarter valued at about $1,610,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $178.50 on Friday. Intercontinental Exchange, Inc. has a 12-month low of $131.79 and a 12-month high of $179.44. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $102.39 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The firm has a 50-day moving average price of $168.00 and a 200 day moving average price of $162.46.

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

Intercontinental Exchange Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.08%. Intercontinental Exchange’s payout ratio is 39.75%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,630 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the sale, the director now owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Martha A. Tirinnanzi sold 397 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total transaction of $70,312.67. Following the sale, the director now directly owns 4,526 shares of the company’s stock, valued at approximately $801,599.86. The trade was a 8.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,579 shares of company stock valued at $584,818. Corporate insiders own 1.00% of the company’s stock.

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.