Flagship Harbor Advisors LLC Has $915,000 Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Flagship Harbor Advisors LLC cut its position in Intercontinental Exchange Inc. (NYSE:ICE) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,307 shares of the financial services provider’s stock after selling 225 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Intercontinental Exchange were worth $915,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Intercontinental Exchange by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock worth $7,782,521,000 after purchasing an additional 538,670 shares during the last quarter. Geode Capital Management LLC grew its position in Intercontinental Exchange by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after purchasing an additional 327,637 shares during the last quarter. Royal Bank of Canada grew its position in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares during the last quarter. Norges Bank acquired a new stake in Intercontinental Exchange in the 4th quarter worth $1,196,258,000. Finally, Northern Trust Corp grew its position in Intercontinental Exchange by 9.7% in the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock worth $1,105,953,000 after purchasing an additional 655,247 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction that occurred 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 sale, the director now owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the sale, the chief executive officer now owns 2,101,705 shares of the company’s stock, valued at approximately $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 227,954 shares of company stock valued at $40,796,663. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Up 0.6%

Shares of ICE stock opened at $180.85 on Wednesday. Intercontinental Exchange Inc. has a 12-month low of $136.21 and a 12-month high of $181.65. The company has a market capitalization of $103.74 billion, a P/E ratio of 37.44, a P/E/G ratio of 1.94 and a beta of 1.12. The firm has a 50-day moving average price of $173.59 and a 200 day moving average price of $165.13. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the firm posted $1.48 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange’s dividend payout ratio is presently 39.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ICE shares. Bank of America reduced their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Finally, Barclays raised their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.46.

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.