Flagship Harbor Advisors LLC Purchases 327 Shares of Intercontinental Exchange Inc. $ICE

Flagship Harbor Advisors LLC lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,634 shares of the financial services provider’s stock after purchasing an additional 327 shares during the period. Flagship Harbor Advisors LLC’s holdings in Intercontinental Exchange were worth $1,034,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Advisors Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 25.0% during the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 396 shares during the period. Capital Investment Advisory Services LLC purchased a new stake in shares of Intercontinental Exchange during the first quarter worth about $349,000. Lecap Asset Management Ltd. purchased a new stake in shares of Intercontinental Exchange during the second quarter worth about $1,075,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Intercontinental Exchange by 18.5% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 103,206 shares of the financial services provider’s stock worth $18,935,000 after buying an additional 16,100 shares in the last quarter. Finally, LPL Financial LLC raised its stake in Intercontinental Exchange by 6.0% in the first quarter. LPL Financial LLC now owns 482,151 shares of the financial services provider’s stock worth $83,171,000 after buying an additional 27,443 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research reports. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research note on Monday, October 13th. UBS Group increased their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Finally, Barclays reissued an “overweight” rating and issued a $201.00 price target (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $198.60.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $148.39 on Friday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a 50 day simple moving average of $166.24 and a two-hundred day simple moving average of $173.50. The company has a market capitalization of $84.94 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 2.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 240,162 shares of company stock valued at $43,642,652 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

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.