Intercontinental Exchange Inc. $ICE is Gladstone Capital Management LLP’s 10th Largest Position

Gladstone Capital Management LLP trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 74.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 157,889 shares of the financial services provider’s stock after selling 455,965 shares during the quarter. Intercontinental Exchange accounts for approximately 2.9% of Gladstone Capital Management LLP’s investment portfolio, making the stock its 10th biggest position. Gladstone Capital Management LLP’s holdings in Intercontinental Exchange were worth $26,601,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 289 shares during the period. Allworth Financial LP raised its holdings in shares of Intercontinental Exchange by 14.2% during the second quarter. Allworth Financial LP now owns 4,893 shares of the financial services provider’s stock valued at $898,000 after purchasing an additional 610 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in Intercontinental Exchange by 5.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.3%

ICE opened at $159.12 on Friday. The stock has a market cap of $90.36 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.71 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s fifty day moving average is $164.52 and its 200 day moving average is $162.33. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 33.28%.

Insider Activity

In other Intercontinental Exchange news, insider Lynn C. Martin sold 13,456 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the sale, the insider owned 54,319 shares in the company, valued at $8,357,521.34. The trade was a 19.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $154.00, for a total value of $383,460.00. Following the transaction, the chief financial officer owned 27,679 shares of the company’s stock, valued at approximately $4,262,566. The trade was a 8.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 348,418 shares of company stock valued at $54,196,631. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. UBS Group reissued a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $194.73.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.