GAMMA Investing LLC Buys 3,883 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

GAMMA Investing LLC grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 42.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,129 shares of the financial services provider's stock after purchasing an additional 3,883 shares during the quarter. GAMMA Investing LLC's holdings in Intercontinental Exchange were worth $2,265,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ICE. Vanguard Group Inc. grew its holdings in Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock valued at $7,782,521,000 after buying an additional 538,670 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Intercontinental Exchange by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock valued at $1,765,317,000 after purchasing an additional 327,637 shares during the period. Royal Bank of Canada grew its position in shares of Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after purchasing an additional 5,204,309 shares in the last quarter. Norges Bank purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at $1,196,258,000. Finally, Northern Trust Corp increased its holdings in shares of Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock worth $1,105,953,000 after purchasing an additional 655,247 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ICE. Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Barclays raised their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Bank of America cut 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 report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average price target of $188.46.

Insider Activity at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 397 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total value of $70,312.67. Following the sale, the director now directly owns 4,526 shares of the company's stock, valued at $801,599.86. This trade represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO James W. Namkung sold 612 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer now directly owns 13,220 shares of the company's stock, valued at $2,379,600. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 227,954 shares of company stock worth $40,796,663 in the last three months. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 0.3%

Shares of ICE traded up $0.53 during trading hours on Monday, hitting $182.28. The company had a trading volume of 119,761 shares, compared to its average volume of 3,111,045. Intercontinental Exchange Inc. has a 52-week low of $136.25 and a 52-week high of $182.82. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The stock's 50 day moving average price is $174.95 and its 200 day moving average price is $165.68. The firm has a market cap of $104.56 billion, a P/E ratio of 37.74, a P/E/G ratio of 1.96 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results 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 13.27% and a net margin of 22.84%. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the previous year, the firm earned $1.48 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.05%. Intercontinental Exchange's payout ratio is 39.75%.

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.