Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Lifted by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,568 shares of the financial services provider’s stock after buying an additional 1,051 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Intercontinental Exchange were worth $15,513,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ICE. New Millennium Group LLC purchased a new position in Intercontinental Exchange in the second quarter valued at about $25,000. International Assets Investment Management LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Fairscale Capital LLC acquired a new position in Intercontinental Exchange in the second quarter worth approximately $25,000. Wolff Wiese Magana LLC raised its position in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Intercontinental Exchange during the third quarter valued at approximately $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE traded down $0.08 during trading hours on Thursday, hitting $155.71. 295,758 shares of the company traded hands, compared to its average volume of 2,549,921. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a twelve month low of $107.76 and a twelve month high of $167.99. The firm has a 50-day moving average of $161.71 and a 200 day moving average of $148.85. The stock has a market capitalization of $89.41 billion, a price-to-earnings ratio of 36.92, a P/E/G ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6.09 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 1.16%. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.65%.

Analyst Ratings Changes

Several research analysts have recently commented on ICE shares. TD Cowen assumed coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. Piper Sandler boosted their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, November 1st. Finally, Barclays cut their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.93.

Insiders Place Their Bets

In other news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the sale, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is currently owned by company insiders.

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.