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Flagship Harbor Advisors LLC lessened its position in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 4.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,307 shares of the financial services provider’s stock after selling 225 shares during the period. Flagship Harbor Advisors LLC’s holdings in Intercontinental Exchange were worth $915,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its stake in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. REAP Financial Group LLC lifted its stake in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in Intercontinental Exchange during the first quarter valued at approximately $31,000. Menard Financial Group LLC acquired a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Finally, Redwood Park Advisors LLC acquired a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $33,000. 89.30% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Intercontinental Exchange
In related news, insider Christopher Scott Edmonds sold 552 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total value of $96,335.04. Following the transaction, the insider now directly owns 15,658 shares in the company, valued at approximately $2,732,634.16. This trade represents a 3.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Judith A. Sprieser sold 2,630 shares of the firm’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director now owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 227,954 shares of company stock worth $40,796,663 in the last 90 days. 1.00% of the stock is owned by insiders.
Intercontinental Exchange Stock Up 0.6%
Intercontinental Exchange stock opened at $180.85 on Wednesday. The firm has a market cap of $103.74 billion, a PE ratio of 37.44, a P/E/G ratio of 1.94 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50 day moving average price is $173.59 and its two-hundred day moving average price is $165.13. Intercontinental Exchange Inc. has a twelve month low of $136.21 and a twelve month high of $181.65.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 EPS. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.
Intercontinental Exchange Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange’s dividend payout ratio is presently 39.75%.
Analyst Upgrades and Downgrades
Several analysts recently commented on ICE shares. Bank of America cut their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Barclays increased their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods upped their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $188.46.
Get Our Latest Analysis on Intercontinental Exchange
Intercontinental Exchange Company 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.
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