SeaBridge Investment Advisors LLC raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 71.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,614 shares of the financial services provider’s stock after acquiring an additional 14,034 shares during the quarter. Intercontinental Exchange accounts for about 1.3% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 21st biggest holding. SeaBridge Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $3,990,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. WASHINGTON TRUST Co lifted its holdings in Intercontinental Exchange by 100.0% in the 2nd quarter. WASHINGTON TRUST Co now owns 230 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 115 shares during the last quarter. Alpha Paradigm Partners LLC acquired a new stake in Intercontinental Exchange in the 1st quarter valued at about $26,000. RE Advisers Corp acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $31,000. Red Door Wealth Management LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $31,000. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Intercontinental Exchange during the first quarter valued at about $32,000. 88.12% of the stock is owned by institutional investors.
In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,758 shares of the stock in a transaction that occurred on Thursday, August 26th. The stock was sold at an average price of $117.48, for a total transaction of $206,529.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mark Wassersug sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $120.22, for a total value of $240,440.00. The disclosure for this sale can be found here. Insiders sold 7,645 shares of company stock worth $913,410 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.
Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 29th. The financial services provider reported $1.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.16. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. Intercontinental Exchange had a return on equity of 13.16% and a net margin of 32.25%. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 4.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 16th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, September 15th. This represents a $1.32 dividend on an annualized basis and a yield of 1.11%. Intercontinental Exchange’s dividend payout ratio is currently 29.27%.
A number of analysts have commented on ICE shares. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $122.00 to $124.00 and gave the company an “equal weight” rating in a research note on Monday, August 2nd. Raymond James upped their price objective on shares of Intercontinental Exchange from $136.00 to $140.00 and gave the company a “strong-buy” rating in a research note on Friday, July 30th. Finally, The Goldman Sachs Group raised shares of Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating in a research note on Wednesday, June 23rd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $128.50.
Intercontinental Exchange Profile
Intercontinental Exchange, Inc engages in the management of online marketplace. It operates through the following segments: Exchanges; Fixed Income and Data Services; and Mortgage Technology. The company was founded by Jeffrey C. Sprecher in May 2000 and is headquartered in Atlanta, GA.
Featured Story: Equal Weight Rating
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange, Inc. (NYSE:ICE).
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.