Gladstone Capital Management LLP Takes Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Gladstone Capital Management LLP bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 290,116 shares of the financial services provider’s stock, valued at approximately $43,230,000. Intercontinental Exchange comprises about 3.6% of Gladstone Capital Management LLP’s portfolio, making the stock its 13th biggest holding.

A number of other large investors have also added to or reduced their stakes in the business. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $25,000. Lee Danner & Bass Inc. acquired a new position in Intercontinental Exchange in the 4th quarter valued at about $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange in the 4th quarter valued at about $40,000. Mountain Hill Investment Partners Corp. acquired a new stake in Intercontinental Exchange during the fourth quarter worth approximately $45,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $51,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ICE shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $182.47.

Intercontinental Exchange Stock Down 6.4 %

Shares of ICE opened at $156.89 on Friday. The firm has a 50 day simple moving average of $168.49 and a two-hundred day simple moving average of $160.80. The company has a market cap of $90.13 billion, a P/E ratio of 32.82, a P/E/G ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $177.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

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

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.22%. Intercontinental Exchange’s payout ratio is currently 40.17%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total transaction of $965,757.88. Following the sale, the president now owns 164,041 shares of the company’s stock, valued at approximately $27,183,234.11. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now owns 12,922 shares of the company’s stock, valued at $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is owned by insiders.

About Intercontinental Exchange

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.