Gladstone Capital Management LLP Acquires New Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Gladstone Capital Management LLP acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 investment portfolio, making the stock its 13th biggest holding. Gladstone Capital Management LLP owned approximately 0.05% of Intercontinental Exchange as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock valued at $7,782,521,000 after acquiring an additional 538,670 shares during the period. State Street Corp increased its position in shares of Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider's stock valued at $3,799,393,000 after buying an additional 281,503 shares during the period. Geode Capital Management LLC grew its stake in Intercontinental Exchange by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock valued at $1,765,317,000 after acquiring an additional 327,637 shares in the last quarter. Norges Bank purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $1,196,258,000. Finally, Franklin Resources Inc. boosted its holdings in Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider's stock valued at $865,455,000 after purchasing an additional 390,332 shares during the period. Institutional investors own 89.30% of the company's stock.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 5,828 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $27,183,234.11. This trade represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 601 shares of the company's stock in a transaction that occurred 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 directly owns 12,922 shares of the company's stock, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,563 shares of company stock valued at $10,998,990 over the last three months. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of several research analyst reports. Bank of America decreased their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Barclays lifted their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $182.47.

Intercontinental Exchange Trading Down 2.3 %

Shares of ICE stock traded down $3.62 on Thursday, hitting $153.19. 1,858,119 shares of the stock traded hands, compared to its average volume of 3,461,854. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $88.01 billion, a PE ratio of 32.06, a PEG ratio of 2.10 and a beta of 1.09. The firm's 50-day moving average price is $167.97 and its two-hundred day moving average price is $160.57. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $177.45.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) 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%. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange's dividend payout ratio 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.