First Hawaiian Bank Sells 2,209 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

First Hawaiian Bank cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 16.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,117 shares of the financial services provider’s stock after selling 2,209 shares during the quarter. First Hawaiian Bank’s holdings in Intercontinental Exchange were worth $1,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its position in Intercontinental Exchange by 1.5% during the 1st quarter. BlackRock Inc. now owns 41,663,328 shares of the financial services provider’s stock worth $4,345,068,000 after purchasing an additional 608,371 shares in the last quarter. Morgan Stanley increased its position in Intercontinental Exchange by 18.9% during the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock worth $2,606,466,000 after purchasing an additional 4,044,744 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Intercontinental Exchange by 45.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock worth $1,755,753,000 after purchasing an additional 5,354,161 shares in the last quarter. Geode Capital Management LLC increased its position in Intercontinental Exchange by 1.2% during the 1st quarter. Geode Capital Management LLC now owns 10,503,361 shares of the financial services provider’s stock worth $1,092,660,000 after purchasing an additional 127,481 shares in the last quarter. Finally, Veritas Asset Management LLP increased its position in Intercontinental Exchange by 76.9% during the 1st quarter. Veritas Asset Management LLP now owns 7,450,402 shares of the financial services provider’s stock worth $777,002,000 after purchasing an additional 3,239,605 shares in the last quarter. 87.91% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 1.0 %

Shares of NYSE ICE opened at $115.72 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 12 month low of $88.60 and a 12 month high of $118.79. The firm has a market capitalization of $64.84 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.35 and a beta of 0.93. The firm has a fifty day simple moving average of $115.34 and a two-hundred day simple moving average of $109.41.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.37 by $0.06. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the firm posted $1.32 EPS. Intercontinental Exchange’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange, Inc. will post 5.65 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, September 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 55.81%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ICE. StockNews.com began coverage on shares of Intercontinental Exchange in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Raymond James upped their price target on shares of Intercontinental Exchange from $133.00 to $137.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 5th. Citigroup upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their price target for the company from $117.00 to $130.00 in a research report on Friday, August 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Intercontinental Exchange from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Barclays decreased their price target on shares of Intercontinental Exchange from $128.00 to $122.00 and set an “equal weight” rating for the company in a research report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 500 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $115.43, for a total value of $57,715.00. Following the transaction, the chief financial officer now owns 15,525 shares in the company, valued at approximately $1,792,050.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 496 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $113.56, for a total transaction of $56,325.76. Following the completion of the sale, the director now directly owns 2,878 shares of the company’s stock, valued at approximately $326,825.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Warren Gardiner sold 500 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $115.43, for a total transaction of $57,715.00. Following the sale, the chief financial officer now directly owns 15,525 shares of the company’s stock, valued at $1,792,050.75. The disclosure for this sale can be found here. Insiders have sold 8,563 shares of company stock worth $984,099 in the last quarter. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange 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.