Gateway Investment Advisers LLC Lowers Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Gateway Investment Advisers LLC cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 264,979 shares of the financial services provider’s stock after selling 75 shares during the period. Gateway Investment Advisers LLC’s holdings in Intercontinental Exchange were worth $39,485,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ICE. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Intercontinental Exchange by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after purchasing an additional 366 shares in the last quarter. M&T Bank Corp lifted its position in Intercontinental Exchange by 33.2% in the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after buying an additional 11,648 shares during the last quarter. Toronto Dominion Bank boosted its stake in Intercontinental Exchange by 1.6% in the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock worth $49,888,000 after buying an additional 4,973 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Intercontinental Exchange during the third quarter valued at approximately $14,880,000. Finally, GDS Wealth Management raised its stake in shares of Intercontinental Exchange by 5.3% during the third quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock worth $16,612,000 after acquiring an additional 5,226 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the transaction, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,533 shares of company stock valued at $1,196,279. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 0.2 %

Intercontinental Exchange stock traded up $0.28 during mid-day trading on Thursday, reaching $148.52. 92,846 shares of the company traded hands, compared to its average volume of 2,944,698. The firm’s 50 day moving average price is $153.62 and its 200 day moving average price is $155.53. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $85.28 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.29 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. Intercontinental Exchange’s quarterly revenue was up 17.3% on a year-over-year basis. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ICE shares. Piper Sandler upped their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Barclays reduced their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.20.

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.