GAMMA Investing LLC Acquires 2,240 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

GAMMA Investing LLC increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 57.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,173 shares of the financial services provider’s stock after acquiring an additional 2,240 shares during the quarter. GAMMA Investing LLC’s holdings in Intercontinental Exchange were worth $845,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in Intercontinental Exchange during the fourth quarter worth about $25,000. Annapolis Financial Services LLC raised its holdings in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in Intercontinental Exchange during the 1st quarter worth approximately $26,000. Stuart Chaussee & Associates Inc. bought a new position in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Intercontinental Exchange by 82.3% in the 1st quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 93 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. Insiders have sold a total of 64,992 shares of company stock worth $9,197,801 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.4 %

Shares of Intercontinental Exchange stock traded down $0.57 on Monday, hitting $149.28. The stock had a trading volume of 2,512,141 shares, compared to its average volume of 2,447,167. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $153.28. The stock has a market cap of $85.62 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 2.68 and a beta of 1.06. The stock’s 50-day simple moving average is $141.10 and its two-hundred day simple moving average is $136.54.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the business earned $1.43 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.21%. The ex-dividend date is Monday, September 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 41.28%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating and reduced their target price for the stock from $155.00 to $152.00 in a research note on Friday. JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Argus reiterated a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Finally, Bank of America lowered their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $153.86.

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.