Gladstone Capital Management LLP Invests $43.23 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Gladstone Capital Management LLP bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 290,116 shares of the financial services provider’s stock, valued at approximately $43,230,000. Intercontinental Exchange accounts for approximately 3.6% of Gladstone Capital Management LLP’s investment portfolio, making the stock its 13th largest position. Gladstone Capital Management LLP owned about 0.05% of Intercontinental Exchange as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $25,524,000. Prudential PLC grew its holdings in Intercontinental Exchange by 34.5% during the fourth quarter. Prudential PLC now owns 13,097 shares of the financial services provider’s stock valued at $1,952,000 after purchasing an additional 3,360 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $648,000. Pitcairn Co. raised its position in shares of Intercontinental Exchange by 4.6% in the fourth quarter. Pitcairn Co. now owns 16,494 shares of the financial services provider’s stock valued at $2,458,000 after purchasing an additional 723 shares during the period. Finally, Grant Private Wealth Management Inc acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $365,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total value of $965,757.88. Following the completion of the sale, the president now owns 164,041 shares of the company’s stock, valued at approximately $27,183,234.11. This represents a 3.43 % decrease in their position. 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 business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the transaction, the insider now owns 12,922 shares in the company, valued at approximately $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. Insiders sold 66,563 shares of company stock valued at $10,998,990 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ICE shares. Barclays increased their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Bank of America lowered their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, UBS Group raised their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $182.47.

Intercontinental Exchange Stock Down 6.4 %

Intercontinental Exchange stock opened at $156.89 on Friday. The company’s 50 day simple moving average is $168.49 and its 200 day simple moving average is $160.80. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $90.13 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $177.45.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

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 issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Intercontinental Exchange 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.