Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by First Hawaiian Bank

First Hawaiian Bank reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,837 shares of the financial services provider’s stock after selling 137 shares during the period. First Hawaiian Bank’s holdings in Intercontinental Exchange were worth $1,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ICE. Wellington Management Group LLP lifted its position in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Intercontinental Exchange by 8.5% in the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after acquiring an additional 1,991 shares during the last quarter. Point72 Europe London LLP lifted its holdings in Intercontinental Exchange by 10.9% in the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock worth $8,515,000 after acquiring an additional 6,500 shares during the last quarter. Perpetual Ltd boosted its stake in Intercontinental Exchange by 0.4% in the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after acquiring an additional 6,272 shares during the period. Finally, LGT Group Foundation raised its position in shares of Intercontinental Exchange by 36.0% during the 4th quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after purchasing an additional 94,039 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Argus restated a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Citigroup upped their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.79.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,267 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the sale, the director now owns 28,849 shares in the company, valued at approximately $3,882,209.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Judith A. Sprieser sold 2,267 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the transaction, the director now directly owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the sale, the insider now owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,992 shares of company stock valued at $9,197,801. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $2.77 during mid-day trading on Tuesday, reaching $151.55. 1,370,232 shares of the stock were exchanged, compared to its average volume of 2,448,995. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average price of $141.35 and a 200 day moving average price of $136.69. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $153.28. The firm has a market capitalization of $86.93 billion, a PE ratio of 34.72, a PEG ratio of 2.68 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. Research analysts expect that Intercontinental Exchange, Inc. will post 6 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.45 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.19%. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

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.