Kornitzer Capital Management Inc. KS Purchases 15,680 Shares of Intercontinental Exchange Inc. $ICE

Kornitzer Capital Management Inc. KS boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICEFree Report) by 32.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,874 shares of the financial services provider’s stock after purchasing an additional 15,680 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Intercontinental Exchange were worth $10,345,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ICE. Wellington Management Group LLP grew its holdings in shares of Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after acquiring an additional 4,067,922 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of Intercontinental Exchange by 179.1% in the 3rd quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock valued at $416,544,000 after acquiring an additional 1,586,620 shares in the last quarter. Waverton Investment Management Ltd grew its holdings in shares of Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after acquiring an additional 1,521,467 shares in the last quarter. Capital World Investors grew its holdings in shares of Intercontinental Exchange by 15.2% in the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after acquiring an additional 928,047 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Intercontinental Exchange by 29.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,439,436 shares of the financial services provider’s stock valued at $410,978,000 after acquiring an additional 553,486 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange News Summary

Here are the key news stories impacting Intercontinental Exchange this week:

Intercontinental Exchange Trading Down 1.9%

Shares of NYSE:ICE opened at $155.04 on Friday. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The company has a market capitalization of $87.82 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 1.64 and a beta of 0.96. The company has a 50-day simple moving average of $160.21 and a 200 day simple moving average of $159.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.02 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the business posted $1.72 EPS. Intercontinental Exchange’s revenue was up 20.4% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 36.05%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ICE. Barclays restated an “overweight” rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Piper Sandler restated an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a report on Wednesday, April 15th. Weiss Ratings cut Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Buy” and a consensus target price of $194.10.

View Our Latest Stock Analysis on Intercontinental Exchange

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares in the company, valued at approximately $7,805,322. This trade represents a 8.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the sale, the insider owned 14,266 shares of the company’s stock, valued at $2,194,396.12. This trade represents a 44.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 348,418 shares of company stock worth $54,196,631 in the last three months. Insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

(Free Report)

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.

Read More

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICEFree Report).

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.