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

Posted by on Jun 12th, 2023

Gamco Investors INC. ET AL reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,368 shares of the financial services provider’s stock after selling 135 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Intercontinental Exchange were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Intercontinental Exchange by 59.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,275,418 shares of the financial services provider’s stock valued at $564,869,000 after purchasing an additional 1,589,999 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Intercontinental Exchange by 3,801.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,320,464 shares of the financial services provider’s stock valued at $119,304,000 after purchasing an additional 1,286,615 shares in the last quarter. Royal Bank of Canada grew its position in shares of Intercontinental Exchange by 85.7% in the third quarter. Royal Bank of Canada now owns 2,570,569 shares of the financial services provider’s stock valued at $232,252,000 after purchasing an additional 1,186,666 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at $66,039,000. Finally, Premier Fund Managers Ltd grew its position in shares of Intercontinental Exchange by 14,712.8% in the fourth quarter. Premier Fund Managers Ltd now owns 509,856 shares of the financial services provider’s stock valued at $53,073,000 after purchasing an additional 506,414 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 1.3 %

NYSE:ICE traded down $1.46 during mid-day trading on Monday, reaching $108.50. 1,494,778 shares of the company’s stock traded hands, compared to its average volume of 2,524,477. Intercontinental Exchange, Inc. has a 12-month low of $88.60 and a 12-month high of $113.07. The firm has a market capitalization of $60.75 billion, a price-to-earnings ratio of 41.89, a PEG ratio of 2.09 and a beta of 0.93. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.08 and a quick ratio of 1.08. The company has a 50 day moving average price of $107.44 and a 200-day moving average price of $105.37.

Intercontinental Exchange (NYSE:ICE – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.01. Intercontinental Exchange had a return on equity of 12.98% and a net margin of 14.97%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the business earned $1.43 EPS. Intercontinental Exchange’s revenue was down .2% compared to the same quarter last year. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.48 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.55%. Intercontinental Exchange’s dividend payout ratio (DPR) is 65.12%.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their price target on Intercontinental Exchange from $125.00 to $122.00 and set a “market perform” rating for the company in a research report on Wednesday, March 1st. StockNews.com began coverage on Intercontinental Exchange in a research note on Thursday, May 18th. They set a “hold” rating for the company. Raymond James lifted their price objective on Intercontinental Exchange from $126.00 to $127.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 6th. Morgan Stanley lifted their price objective on Intercontinental Exchange from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Intercontinental Exchange from $122.00 to $120.00 in a research note on Friday, May 5th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $129.89.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $108.50, for a total transaction of $217,000.00. Following the transaction, the president now owns 125,526 shares in the company, valued at approximately $13,619,571. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Benjamin Jackson sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $108.50, for a total value of $217,000.00. Following the transaction, the president now directly owns 125,526 shares of the company’s stock, valued at approximately $13,619,571. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 85,461 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $107.89, for a total value of $9,220,387.29. Following the completion of the transaction, the chief executive officer now directly owns 1,188,085 shares in the company, valued at $128,182,490.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,434 shares of company stock worth $10,083,786. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company Profile

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Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.

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

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